Hummingbird Resources (LON:HUM) Shares Up 10.9% – Still a Buy?

Shares of Hummingbird Resources PLC (LON:HUM) were up 10.9% during trading on Thursday . The stock traded as high as GBX 2.60 ($0.03) and last traded at GBX 2.44 ($0.03). Approximately 4,628,327 shares traded hands during trading, an increase of 95% from the average daily volume of 2,377,425 shares. The stock had previously closed at GBX 2.20 ($0.03).

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group restated a “speculative buy” rating and issued a GBX 17 ($0.21) price objective on shares of Hummingbird Resources in a report on Tuesday, September 17th.

Hummingbird Resources Stock Up 10.9 %

The stock has a market capitalization of £19.77 million, a P/E ratio of -48.80 and a beta of 0.50. The stock has a 50 day moving average price of GBX 3.01 and a 200-day moving average price of GBX 6.34. The company has a debt-to-equity ratio of 149.07, a current ratio of 0.21 and a quick ratio of 0.45.

About Hummingbird Resources

Hummingbird Resources plc (AIM: HUM) is a leading multi-asset, multi-jurisdiction gold producing Company, member of the World Gold Council and founding member of Single Mine Origin (www.singlemineorigin.com). The Company currently has two core gold projects, the operational Yanfolila Gold Mine in Mali, and the Kouroussa Gold Mine in Guinea, which will more than double current gold production once at commercial production.

Further, the Company has a controlling interest in the Dugbe Gold Project in Liberia that is being developed by joint venture partners, Pasofino Gold Limited.