Independence Gold (CVE:IGO) Stock Price Up 10.5% – Time to Buy?

Independence Gold Corp. (CVE:IGO) traded up 10.5% during trading on Friday . The stock traded as high as C$0.10 and last traded at C$0.10. Approximately 635,440 shares were traded during mid-day trading, an increase of 72% from the average daily volume of 368,751 shares. The stock had previously closed at C$0.10.

Independence Gold Stock Up 10.5%

The firm’s 50 day simple moving average is C$0.10 and its 200 day simple moving average is C$0.10. The company has a market cap of C$27.71 million, a price-to-earnings ratio of -3.50 and a beta of 0.33. The company has a quick ratio of 0.38, a current ratio of 4.62 and a debt-to-equity ratio of 1.13.

Insider Transactions at Independence Gold

In other Independence Gold news, insider Gestion Bouca Inc bought 478,000 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were purchased at an average cost of C$0.10 per share, for a total transaction of C$47,800.00. Following the transaction, the insider directly owned 3,357,500 shares in the company, valued at C$335,750. The trade was a 16.60% increase in their ownership of the stock. Over the last three months, insiders purchased 1,326,000 shares of company stock valued at $133,840. Corporate insiders own 12.50% of the company’s stock.

About Independence Gold

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.