Rusoro Mining (CVE:RML) Shares Up 15% – Still a Buy?

Shares of Rusoro Mining Ltd. (CVE:RML) traded up 15% on Friday. The company traded as high as C$1.15 and last traded at C$1.15. 145,500 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 457,447 shares. The stock had previously closed at C$1.00.

Rusoro Mining Trading Up 15.0%

The stock has a market capitalization of C$736.32 million, a price-to-earnings ratio of -2.87 and a beta of -0.17. The company has a fifty day moving average of C$1.14 and a two-hundred day moving average of C$1.12.

Insider Activity

In related news, insider L.P. Silver Point Capital purchased 1,590,873 shares of the stock in a transaction on Thursday, August 13th. The shares were purchased at an average cost of C$1.19 per share, for a total transaction of C$1,893,138.87. Following the completion of the transaction, the insider directly owned 31,624,366 shares of the company’s stock, valued at approximately C$37,632,995.54. The trade was a 5.30% increase in their position. Also, Director Gordon Keep sold 500,000 shares of the company’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of C$1.20, for a total transaction of C$600,000.00. In the last three months, insiders have acquired 6,901,500 shares of company stock worth $8,204,487. Corporate insiders own 29.16% of the company’s stock.

About Rusoro Mining

Rusoro Mining Ltd. engages in the acquisition, exploration, development, and operation of gold mineral properties in Venezuela. It primarily holds 95% interests in the Choco 10 mine; and 50% interest in the Isidora mine located in the El Callao district in south-eastern Venezuela. The company was formerly known as Newton Ventures Inc and changed its name to Rusoro Mining Ltd. in November 2006. The company is headquartered in Vancouver, Canada.