Providence Gold Mines (CVE:PHD) Shares Up 28.6% – Here’s Why

Providence Gold Mines Inc. (CVE:PHD) shares shot up 28.6% during trading on Saturday . The stock traded as high as C$0.05 and last traded at C$0.05. 245,000 shares were traded during trading, an increase of 147% from the average session volume of 99,160 shares. The stock had previously closed at C$0.04.

Providence Gold Mines Price Performance

The stock has a market capitalization of C$2.86 million, a price-to-earnings ratio of -1.13 and a beta of 2.67. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.07 and a current ratio of 0.03. The company has a 50 day moving average of C$0.03 and a 200 day moving average of C$0.03.

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.