Independence Gold (CVE:IGO) Trading Up 14.3% – Here’s What Happened

Shares of Independence Gold Corp. (CVE:IGO) rose 14.3% during trading on Wednesday . The company traded as high as C$0.12 and last traded at C$0.12. 1,169,138 shares traded hands during trading, an increase of 214% from the average session volume of 372,542 shares. The stock had previously closed at C$0.10.

Independence Gold Stock Performance

The stock has a market cap of C$30.35 million, a price-to-earnings ratio of -3.83 and a beta of 0.29. The firm’s 50-day moving average is C$0.10 and its two-hundred day moving average is C$0.10. The company has a current ratio of 4.62, a quick ratio of 0.38 and a debt-to-equity ratio of 1.13.

Insider Activity at Independence Gold

In other news, insider Gestion Bouca Inc bought 1,780,000 shares of Independence Gold stock in a transaction on Saturday, June 27th. The stock was acquired at an average price of C$0.10 per share, with a total value of C$178,000.00. Following the completion of the acquisition, the insider directly owned 31,771,000 shares of the company’s stock, valued at C$3,177,100. The trade was a 5.94% increase in their ownership of the stock. Insiders purchased a total of 7,452,216 shares of company stock worth $809,546 over the last ninety days. 12.50% of the stock is owned by corporate insiders.

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.