Chesapeake Gold (CVE:CKG) Shares Up 32.9% – Here’s Why

Chesapeake Gold Corp. (CVE:CKG) shares rose 32.9% on Friday . The company traded as high as C$5.12 and last traded at C$4.73. Approximately 634,085 shares changed hands during trading, an increase of 189% from the average daily volume of 219,244 shares. The stock had previously closed at C$3.56.

Chesapeake Gold Stock Performance

The firm has a market capitalization of C$363.67 million, a P/E ratio of -78.83 and a beta of 1.59. The stock’s 50 day simple moving average is C$4.02 and its 200 day simple moving average is C$2.84.

Insider Buying and Selling

In other Chesapeake Gold news, insider Alan Nigel Pangbourne sold 83,800 shares of the firm’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of C$4.09, for a total transaction of C$342,742.00. Following the transaction, the insider directly owned 7,245,000 shares in the company, valued at C$29,632,050. This trade represents a 1.14% decrease in their position. In the last quarter, insiders sold 154,300 shares of company stock worth $606,397. Company insiders own 32.91% of the company’s stock.

About Chesapeake Gold

Chesapeake Gold Corp., a mineral exploration and evaluation company, focuses on acquisition, evaluation, and development of precious metal deposits in North and Central America. The company primarily explores for gold and silver deposits. Its flagship project is the Metates project that includes 14 mining concessions covering an area of 14,727 hectares located in Durango State, Mexico. Chesapeake Gold Corp. was founded in 1993 and is headquartered in Vancouver, Canada.