Independence Gold (CVE:IGO) Stock Falls 4.2% – What’s Next?

Independence Gold Corp. (CVE:IGO) shares were down 4.2% on Wednesday. The stock traded as low as C$0.11 and last traded at C$0.12. 735,638 shares changed hands during mid-day trading, an increase of 81% from the average session volume of 406,457 shares. The stock had previously closed at C$0.12.

Independence Gold Trading Down 4.2%

The company has a quick ratio of 0.38, a current ratio of 2.52 and a debt-to-equity ratio of 1.31. The stock’s 50 day moving average is C$0.16 and its 200-day moving average is C$0.12. The company has a market cap of C$30.35 million, a PE ratio of -3.83 and a beta of 0.43.

Insider Buying and Selling at Independence Gold

In related news, insider Gestion Bouca Inc purchased 221,906 shares of the company’s stock in a transaction that occurred on Wednesday, September 16th. The stock was bought at an average price of C$0.19 per share, for a total transaction of C$42,162.14. Following the completion of the transaction, the insider owned 43,366,926 shares in the company, valued at approximately C$8,239,715.94. The trade was a 0.51% increase in their position. In the last 90 days, insiders have bought 5,680,710 shares of company stock valued at $1,027,930. Insiders own 12.50% of the company’s stock.

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.