Independence Gold (CVE:IGO) Stock Price Down 19% – Here’s Why

Independence Gold Corp. (CVE:IGO)’s share price dropped 19% during mid-day trading on Wednesday . The stock traded as low as C$0.09 and last traded at C$0.09. Approximately 1,807,154 shares were traded during mid-day trading, an increase of 314% from the average daily volume of 436,030 shares. The stock had previously closed at C$0.11.

Independence Gold Trading Down 9.5%

The firm’s 50 day moving average price is C$0.14 and its 200-day moving average price is C$0.14. The company has a debt-to-equity ratio of 6.41, a current ratio of 3.35 and a quick ratio of 0.38. The stock has a market cap of C$21.34 million, a P/E ratio of -3.17 and a beta of -1.36.

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.