GoGold Resources (TSE:GGD) Trading Up 11.9% – What’s Next?

GoGold Resources Inc. (TSE:GGD) shares were up 11.9% during mid-day trading on Monday . The stock traded as high as C$3.73 and last traded at C$3.39. Approximately 2,904,131 shares were traded during trading, an increase of 43% from the average daily volume of 2,028,118 shares. The stock had previously closed at C$3.03.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Stifel Nicolaus set a C$5.25 price target on shares of GoGold Resources and gave the company a “buy” rating in a research report on Monday, March 2nd. Desjardins set a C$5.50 price target on shares of GoGold Resources and gave the company a “buy” rating in a research report on Friday, April 24th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, GoGold Resources currently has an average rating of “Buy” and an average target price of C$5.38.

GoGold Resources Stock Performance

The stock’s 50-day simple moving average is C$2.99 and its 200 day simple moving average is C$3.02. The company has a debt-to-equity ratio of 0.20, a quick ratio of 8.30 and a current ratio of 9.29. The company has a market capitalization of C$1.37 billion, a PE ratio of 28.90 and a beta of 1.86.

GoGold Resources (TSE:GGD) last announced its quarterly earnings data on Wednesday, May 6th. The company reported C$0.05 EPS for the quarter. GoGold Resources had a net margin of 52.19% and a return on equity of 12.12%. The company had revenue of C$42.17 million for the quarter. As a group, research analysts expect that GoGold Resources Inc. will post 0.0349744 earnings per share for the current fiscal year.

About GoGold Resources

GoGold Resources (TSX: GGD) is a Canadian-based silver and gold producer focused on operating, developing, exploring and acquiring high quality projects in Mexico. The Company operates the Parral Tailings mine in the state of Chihuahua and has the Los Ricos South and Los Ricos North exploration and development projects in the state of Jalisco. Headquartered in Halifax, NS, GoGold is building a portfolio of low cost, high margin projects.