Providence Gold Mines (CVE:PHD) Trading 50% Higher – Time to Buy?

Providence Gold Mines Inc. (CVE:PHD)’s stock price traded up 50% on Saturday . The company traded as high as C$0.05 and last traded at C$0.05. 286,500 shares traded hands during mid-day trading, an increase of 181% from the average session volume of 102,000 shares. The stock had previously closed at C$0.03.

Providence Gold Mines Stock Up 50.0%

The business has a 50-day simple moving average of C$0.02 and a two-hundred day simple moving average of C$0.03. The stock has a market capitalization of C$2.86 million, a P/E ratio of -1.13 and a beta of 1.92. The company has a quick ratio of 0.07, a current ratio of 0.03 and a debt-to-equity ratio of 0.42.

Providence Gold Mines Company Profile

Providence Gold Mines Inc, an exploration stage company, engages in the acquisition, exploration, and evaluation of mineral properties located in Canada and the United States. The company primarily explores for gold ores. It holds interests in the Providence Mines Property, consisting 7 patented staked mineral claims and 22 located claims, covering an area of approximately 324 acres located in the Summerville Mining District, Sonora, California.