GoGold Resources (TSE:GGD) Trading Up 2.4% – Here’s Why

GoGold Resources Inc. (TSE:GGD) shot up 2.4% during trading on Monday . The company traded as high as C$3.87 and last traded at C$3.82. Approximately 1,577,152 shares traded hands during mid-day trading, a decline of 20% from the average daily volume of 1,971,676 shares. The stock had previously closed at C$3.73.

Analyst Upgrades and Downgrades

Separately, Desjardins set a C$5.50 target price on GoGold Resources and gave the stock a “buy” rating in a report on Friday, April 24th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, GoGold Resources currently has an average rating of “Buy” and an average target price of C$5.38.

GoGold Resources Price Performance

The company has a quick ratio of 8.30, a current ratio of 9.29 and a debt-to-equity ratio of 0.20. The company’s fifty day moving average price is C$3.20 and its 200 day moving average price is C$3.12. The company has a market capitalization of C$1.66 billion, a P/E ratio of 35.05 and a beta of 2.04.

About GoGold Resources

GoGold Resources (TSX: GGD) is a Canadian-based silver and gold producer focused on operating, developing, exploring and acquiring high quality projects in Mexico. The Company operates the Parral Tailings mine in the state of Chihuahua and has the Los Ricos South and Los Ricos North exploration and development projects in the state of Jalisco. Headquartered in Halifax, NS, GoGold is building a portfolio of low cost, high margin projects.