Independence Gold (CVE:IGO) Stock Price Up 20.8% – Should You Buy?

Shares of Independence Gold Corp. (CVE:IGO) traded up 20.8% during trading on Wednesday . The company traded as high as C$0.15 and last traded at C$0.14. Approximately 1,659,132 shares were traded during mid-day trading, an increase of 342% from the average session volume of 375,436 shares. The stock had previously closed at C$0.12.

Independence Gold Stock Up 20.8%

The company’s 50 day moving average price is C$0.11 and its two-hundred day moving average price is C$0.10. The company has a quick ratio of 0.38, a current ratio of 4.62 and a debt-to-equity ratio of 1.13. The stock has a market cap of C$38.27 million, a P/E ratio of -4.83 and a beta of 0.29.

Insider Buying and Selling at Independence Gold

In other news, insider Gestion Bouca Inc bought 221,000 shares of the stock in a transaction on Wednesday, August 12th. The stock was acquired at an average cost of C$0.13 per share, for a total transaction of C$28,730.00. Following the acquisition, the insider owned 37,114,184 shares of the company’s stock, valued at C$4,824,843.92. This represents a 0.60% increase in their ownership of the stock. In the last three months, insiders acquired 8,295,184 shares of company stock valued at $917,741. 12.50% of the stock is currently owned by corporate insiders.

Independence Gold Company Profile

Independence Gold Corp. engages in the acquisition, exploration, and evaluation of precious metal properties in Canada and North America. It explores for gold and silver deposits. The company holds 100% interest in the 3Ts Project comprising six claim groups and consist of seventy mineral claims covering an approximately 8,840 hectares located in the Nechako Plateau region of central British Columbia; and the Laidman Project comprising six mineral tenures covering an approximately 10,800 hectares located in the British Columbia.