Independence Gold (CVE:IGO) Stock Price Down 9.5% – Here’s What Happened

Independence Gold Corp. (CVE:IGO) traded down 9.5% during mid-day trading on Wednesday . The company traded as low as C$0.19 and last traded at C$0.19. Approximately 374,935 shares were traded during trading, a decline of 7% from the average session volume of 405,136 shares. The stock had previously closed at C$0.21.

Independence Gold Trading Down 9.5%

The business has a 50 day simple moving average of C$0.13 and a 200 day simple moving average of C$0.11. The company has a debt-to-equity ratio of 1.31, a current ratio of 2.52 and a quick ratio of 0.38. The company has a market cap of C$50.15 million, a price-to-earnings ratio of -6.33 and a beta of 0.57.

Insider Activity at Independence Gold

In related news, insider Gestion Bouca Inc purchased 221,000 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was acquired at an average price of C$0.13 per share, with a total value of C$28,730.00. Following the completion of the acquisition, the insider directly owned 37,114,184 shares in the company, valued at approximately C$4,824,843.92. This trade represents a 0.60% increase in their position. Insiders have purchased 7,788,184 shares of company stock worth $869,211 over the last quarter. 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.