Pan Global Resources (CVE:PGZ) Stock Price Down 11.1% – Here’s What Happened

Pan Global Resources Inc. (CVE:PGZ) was down 11.1% during mid-day trading on Wednesday . The company traded as low as C$0.11 and last traded at C$0.12. Approximately 1,892,792 shares were traded during mid-day trading, an increase of 767% from the average daily volume of 218,416 shares. The stock had previously closed at C$0.14.

Pan Global Resources Stock Performance

The company’s 50 day moving average price is C$0.14 and its 200 day moving average price is C$0.15. The company has a market cap of C$40.22 million, a price-to-earnings ratio of -6.25 and a beta of 1.11.

Insider Buying and Selling

In related news, Director Patrick Charles Evans bought 500,000 shares of the business’s stock in a transaction on Wednesday, December 31st. The shares were bought at an average cost of C$0.12 per share, for a total transaction of C$60,000.00. Following the completion of the acquisition, the director directly owned 6,356,032 shares in the company, valued at approximately C$762,723.84. This represents a 8.54% increase in their ownership of the stock. 8.29% of the stock is owned by insiders.

About Pan Global Resources

Pan Global Resources Inc, a mineral exploration company, engages in the exploration and evaluation of mineral properties in Spain. The company explores for lead, zinc, silver, gold, tin, cobalt, and copper deposits. It holds 100% interest in the Aguilas project, which comprises nine investigation permits that covers an area of approximately 16,300 hectares, as well as additional mineral rights applications covering an area of approximately 2,803 hectares. located in the provinces of Cordoba and Ciudad Real, Spain; and a 100% interest in the Escacena Project covering an area of approximately 5,700 hectares situated in southern Spain.