Providence Gold Mines (CVE:PHD) Shares Down 28.6% – What’s Next?

Providence Gold Mines Inc. (CVE:PHD)’s stock price traded down 28.6% during mid-day trading on Wednesday . The stock traded as low as C$0.05 and last traded at C$0.05. 156,353 shares changed hands during mid-day trading, an increase of 70% from the average session volume of 91,915 shares. The stock had previously closed at C$0.07.

Providence Gold Mines Price Performance

The business has a fifty day moving average of C$0.06 and a 200 day moving average of C$0.04. The firm has a market cap of C$3.26 million, a P/E ratio of -1.25 and a beta of 1.98. The company has a quick ratio of 0.07, a current ratio of 0.03 and a debt-to-equity ratio of 0.42.

About Providence Gold Mines

Providence Gold Mines Inc, an exploration stage company, engages in the acquisition, exploration, and evaluation of mineral properties located in Canada and the United States. The company primarily explores for gold ores. It holds interests in the Providence Mines Property, consisting 7 patented staked mineral claims and 22 located claims, covering an area of approximately 324 acres located in the Summerville Mining District, Sonora, California. The company was formerly known as Red Hut Metals Inc and changed its name to Providence Gold Mines Inc in July 2017.