Independence Gold (CVE:IGO) Trading Down 12.5% – Here’s Why

Shares of Independence Gold Corp. (CVE:IGO) dropped 12.5% on Thursday . The stock traded as low as C$0.10 and last traded at C$0.11. Approximately 519,499 shares were traded during mid-day trading, an increase of 14% from the average daily volume of 457,642 shares. The stock had previously closed at C$0.12.

Independence Gold Stock Performance

The company has a quick ratio of 0.38, a current ratio of 3.35 and a debt-to-equity ratio of 6.41. The firm has a market cap of C$22.47 million, a P/E ratio of -3.33 and a beta of -1.99. The business has a fifty day simple moving average of C$0.11 and a 200-day simple moving average of C$0.13.

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.