Goliath Resources (CVE:GOT) Trading Up 3.6% – Here’s Why

Shares of Goliath Resources Limited (CVE:GOT) were up 3.6% during trading on Friday . The stock traded as high as C$2.32 and last traded at C$2.31. Approximately 1,501,144 shares changed hands during trading, an increase of 199% from the average daily volume of 501,374 shares. The stock had previously closed at C$2.23.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus raised Goliath Resources to a “strong-buy” rating in a report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Strong Buy”.

Goliath Resources Stock Up 3.6%

The company has a fifty day moving average price of C$2.51. The stock has a market cap of C$396.75 million, a P/E ratio of -12.83 and a beta of 1.90.

Goliath Resources Ltd. (CVE: GOT) is a Canadian junior mineral exploration company. It is principally engaged in the acquisition, exploration and advancement of mineral properties with a focus on discovering and delineating precious and base metal deposits. Goliath operates as an exploration-stage company, pursuing targets through early- to mid-stage field work and drill programs rather than operating producing mines.

The company’s core activities include project generation and property acquisition, geological mapping, surface sampling, geophysical and geochemical surveys, and diamond drilling to test and expand mineralized zones.