Providence Gold Mines (CVE:PHD) Trading Up 28.6% – Should You Buy?

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

Providence Gold Mines Price Performance

The business’s 50 day moving average price is C$0.03 and its 200 day moving average price is 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 2.67. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.03 and a quick ratio of 0.07.

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.