Independence Gold (CVE:IGO) Shares Up 10.5% – Should You Buy?

Shares of Independence Gold Corp. (CVE:IGO) shot up 10.5% on Friday . The stock traded as high as C$0.10 and last traded at C$0.10. 635,440 shares changed hands during trading, an increase of 72% from the average daily volume of 368,751 shares. The stock had previously closed at C$0.10.

Independence Gold Trading Up 10.5%

The company has a current ratio of 4.62, a quick ratio of 0.38 and a debt-to-equity ratio of 1.13. The business’s 50-day moving average is C$0.10 and its two-hundred day moving average is C$0.10. The firm has a market cap of C$27.71 million, a P/E ratio of -3.50 and a beta of 0.33.

Insider Transactions at Independence Gold

In related news, insider Gestion Bouca Inc acquired 478,000 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was purchased at an average cost of C$0.10 per share, for a total transaction of C$47,800.00. Following the purchase, the insider directly owned 3,357,500 shares in the company, valued at C$335,750. This represents a 16.60% increase in their ownership of the stock. In the last ninety days, insiders purchased 1,326,000 shares of company stock worth $133,840. Insiders own 12.50% of the company’s stock.

Independence Gold Company Profile

Independence Gold Corp. engages in the acquisition, exploration, and evaluation of precious metal properties in Canada and North America. It explores for gold and silver deposits. The company holds 100% interest in the 3Ts Project comprising six claim groups and consist of seventy mineral claims covering an approximately 8,840 hectares located in the Nechako Plateau region of central British Columbia; and the Laidman Project comprising six mineral tenures covering an approximately 10,800 hectares located in the British Columbia.