Goldquest Mining (CVE:GQC) Shares Up 23.6% – Here’s What Happened

Goldquest Mining Corp. (CVE:GQC) shot up 23.6% on Wednesday . The stock traded as high as C$1.46 and last traded at C$1.36. 4,429,364 shares changed hands during mid-day trading, an increase of 555% from the average session volume of 675,997 shares. The stock had previously closed at C$1.10.

Goldquest Mining Trading Down 6.6%

The firm has a market capitalization of C$436.39 million, a price-to-earnings ratio of -22.80 and a beta of 1.32. The company’s 50 day moving average is C$1.53 and its 200-day moving average is C$1.78.

Insider Activity

In other news, insider Guess Investments Ltd. bought 62,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was acquired at an average cost of C$0.43 per share, for a total transaction of C$26,660.00. Following the purchase, the insider owned 42,144,916 shares of the company’s stock, valued at approximately C$18,122,313.88. This trade represents a 0.15% increase in their position. Also, Director Patrick Michaels acquired 200,000 shares of the business’s stock in a transaction on Monday, May 11th. The shares were bought at an average price of C$0.45 per share, with a total value of C$90,000.00. Following the completion of the transaction, the director directly owned 2,250,000 shares of the company’s stock, valued at approximately C$1,012,500. The trade was a 9.76% increase in their ownership of the stock. Insiders purchased a total of 320,814 shares of company stock valued at $141,950 over the last quarter. 17.36% of the stock is currently owned by company insiders.

Goldquest Mining Company Profile

Goldquest Mining Corp., together with its subsidiaries, engages in the identification, acquisition, and exploration of mineral properties in the Dominican Republic. The company primarily explores for gold and copper deposits. It primarily owns a 100% interest in the Romero gold-copper project that comprises two mineral deposits covering an area of 3,997 hectares located to the south of the Central Cordillera of Hispaniola; and the Tireo property comprising 13 concessions covering an area of 20,076 hectares located in the province of San Juan de la Maguana, the Dominican Republic.