Independence Gold (CVE:IGO) Trading Down 9.5% – Should You Sell?

Independence Gold Corp. (CVE:IGO)’s share price fell 9.5% on Wednesday . The stock traded as low as C$0.19 and last traded at C$0.19. 374,935 shares traded hands during mid-day trading, a decline of 7% from the average daily volume of 405,136 shares. The stock had previously closed at C$0.21.

Independence Gold Stock Down 5.1%

The company has a current ratio of 2.52, a quick ratio of 0.38 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of C$48.83 million, a price-to-earnings ratio of -6.17 and a beta of 0.57. The business’s fifty day moving average price is C$0.14 and its 200 day moving average price is C$0.11.

Insider Activity at Independence Gold

In other news, insider Gestion Bouca Inc purchased 221,000 shares of the company’s stock in a transaction dated Wednesday, August 12th. The shares were acquired at an average cost of C$0.13 per share, for a total transaction of C$28,730.00. Following the completion of the purchase, the insider directly owned 37,114,184 shares in the company, valued at C$4,824,843.92. The trade was a 0.60% increase in their position. In the last ninety days, insiders have acquired 7,788,184 shares of company stock valued at $869,211. 12.50% of the stock is currently owned by company insiders.

About Independence Gold

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.