Providence Gold Mines (CVE:PHD) Stock Price Up 42.9% – Time to Buy?

Providence Gold Mines Inc. (CVE:PHDGet Free Report) was up 42.9% during mid-day trading on Saturday . The company traded as high as C$0.05 and last traded at C$0.05. Approximately 273,000 shares changed hands during trading, an increase of 182% from the average daily volume of 96,785 shares. The stock had previously closed at C$0.04.

Providence Gold Mines Price Performance

The firm has a market cap of C$3.18 million, a price-to-earnings ratio of -1.25 and a beta of 2.64. The company has a current ratio of 0.03, a quick ratio of 0.07 and a debt-to-equity ratio of 0.42. The stock’s fifty day moving average price is C$0.04 and its 200-day moving average price is C$0.03.

About Providence Gold Mines

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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.

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