GoGold Resources (TSE:GGD) Trading Down 9.3% – Here’s What Happened

GoGold Resources Inc. (TSE:GGD)’s stock price was down 9.3% during trading on Friday . The company traded as low as C$2.92 and last traded at C$3.03. Approximately 2,774,174 shares traded hands during mid-day trading, an increase of 37% from the average daily volume of 2,020,390 shares. The stock had previously closed at C$3.34.

Analyst Ratings Changes

A number of equities research analysts have commented on GGD shares. Desjardins set a C$5.50 target price on shares of GoGold Resources and gave the stock a “buy” rating in a research report on Friday, April 24th. Stifel Nicolaus set a C$5.25 target price on shares of GoGold Resources and gave the stock a “buy” rating in a research report on Monday, March 2nd. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, GoGold Resources currently has an average rating of “Buy” and a consensus target price of C$5.38.

GoGold Resources Stock Down 9.3%

The company’s 50 day moving average price is C$2.96 and its two-hundred day moving average price is C$3.01. The firm has a market cap of C$1.31 billion, a PE ratio of 27.80 and a beta of 1.86. The company has a current ratio of 9.29, a quick ratio of 8.30 and a debt-to-equity ratio of 0.20.

GoGold Resources (TSE:GGD) last issued its quarterly earnings results on Wednesday, May 6th. The company reported C$0.05 earnings per share for the quarter. The business had revenue of C$42.17 million for the quarter. GoGold Resources had a net margin of 52.19% and a return on equity of 12.12%. On average, equities research analysts expect that GoGold Resources Inc. will post 0.0349744 EPS for the current fiscal year.

About GoGold Resources

GoGold Resources (TSX: GGD) is a Canadian-based silver and gold producer focused on operating, developing, exploring and acquiring high quality projects in Mexico. The Company operates the Parral Tailings mine in the state of Chihuahua and has the Los Ricos South and Los Ricos North exploration and development projects in the state of Jalisco. Headquartered in Halifax, NS, GoGold is building a portfolio of low cost, high margin projects.