Providence Gold Mines (CVE:PHD) Shares Up 22.2% – Time to Buy?

Providence Gold Mines Inc. (CVE:PHDGet Free Report)’s share price shot up 22.2% during mid-day trading on Saturday . The stock traded as high as C$0.06 and last traded at C$0.06. 118,000 shares traded hands during mid-day trading, an increase of 24% from the average session volume of 95,034 shares. The stock had previously closed at C$0.05.

Providence Gold Mines Stock Up 22.2%

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’s fifty day moving average price is C$0.04 and its 200-day moving average price is C$0.03. The stock has a market cap of C$3.50 million, a P/E ratio of -1.38 and a beta of 2.64.

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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