Independence Gold (CVE:IGO) Trading Down 9.5% – Should You Sell?

Independence Gold Corp. (CVE:IGO)’s share price dropped 9.5% on Wednesday . The stock traded as low as C$0.19 and last traded at C$0.19. Approximately 374,935 shares changed hands during mid-day trading, a decline of 7% from the average session volume of 405,136 shares. The stock had previously closed at C$0.21.

Independence Gold Stock Down 9.5%

The company has a current ratio of 2.52, a quick ratio of 0.38 and a debt-to-equity ratio of 1.31. The firm has a 50 day moving average price of C$0.13 and a 200-day moving average price of C$0.11. The firm has a market cap of C$50.15 million, a price-to-earnings ratio of -6.33 and a beta of 0.57.

Insider Activity at Independence Gold

In other Independence Gold news, insider Gestion Bouca Inc bought 1,780,000 shares of the stock in a transaction dated Saturday, June 27th. The stock was bought at an average cost of C$0.10 per share, for a total transaction of C$178,000.00. Following the completion of the purchase, the insider directly owned 31,771,000 shares of the company’s stock, valued at approximately C$3,177,100. The trade was a 5.94% increase in their ownership of the stock. Insiders have acquired 7,788,184 shares of company stock worth $869,211 over the last 90 days. 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.