Providence Gold Mines (CVE:PHD) Stock Price Down 28.6% – Here’s Why

Shares of Providence Gold Mines Inc. (CVE:PHD) were down 28.6% during trading on Wednesday . The company traded as low as C$0.05 and last traded at C$0.05. Approximately 156,353 shares were traded during trading, an increase of 70% from the average daily volume of 91,915 shares. The stock had previously closed at C$0.07.

Providence Gold Mines Price Performance

The company’s 50-day moving average price is C$0.06 and its two-hundred day moving average price is C$0.04. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.03 and a quick ratio of 0.07. The company has a market capitalization of C$3.26 million, a P/E ratio of -1.25 and a beta of 1.98.

Providence Gold Mines Company Profile

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.