Goliath Resources (CVE:GOT) Trading 3.6% Higher – Should You Buy?

Goliath Resources Limited (CVE:GOT)’s stock price was up 3.6% on Friday . The company traded as high as C$2.32 and last traded at C$2.31. Approximately 1,501,144 shares traded hands during mid-day trading, an increase of 199% from the average daily volume of 501,374 shares. The stock had previously closed at C$2.23.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus upgraded shares of Goliath Resources to a “strong-buy” rating in a research report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Strong Buy”.

Goliath Resources Stock Performance

The stock has a market cap of C$396.75 million, a P/E ratio of -12.83 and a beta of 1.90. The company has a 50-day simple moving average of C$2.51.

Goliath Resources Ltd. (CVE: GOT) is a Canadian junior mineral exploration company. It is principally engaged in the acquisition, exploration and advancement of mineral properties with a focus on discovering and delineating precious and base metal deposits. Goliath operates as an exploration-stage company, pursuing targets through early- to mid-stage field work and drill programs rather than operating producing mines.

The company’s core activities include project generation and property acquisition, geological mapping, surface sampling, geophysical and geochemical surveys, and diamond drilling to test and expand mineralized zones.