Providence Gold Mines (CVE:PHD) Shares Up 28.6% – Still a Buy?

Providence Gold Mines Inc. (CVE:PHD)’s stock price shot up 28.6% during mid-day trading on Friday . The company traded as high as C$0.05 and last traded at C$0.05. 245,000 shares traded hands during trading, an increase of 147% from the average session volume of 99,002 shares. The stock had previously closed at C$0.04.

Providence Gold Mines Stock Performance

The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.07 and a current ratio of 0.03. The company has a market capitalization of C$2.86 million, a P/E ratio of -1.13 and a beta of 2.67. The business has a 50 day moving average of C$0.03 and a 200-day moving average of C$0.03.

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.