Providence Gold Mines (CVE:PHD) Shares Down 20% – Here’s Why

by · The Cerbat Gem

Providence Gold Mines Inc. (CVE:PHD – Get Free Report)’s share price traded down 20% on Monday . The company traded as low as C$0.04 and last traded at C$0.04. 23,000 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 96,255 shares. The stock had previously closed at C$0.05.

Providence Gold Mines Stock Performance

The firm has a market capitalization of C$2.54 million, a P/E ratio of -1.00 and a beta of 2.64. The stock’s 50 day moving average is C$0.04 and its two-hundred day moving average is C$0.03. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.03 and a quick ratio of 0.07.

About Providence Gold Mines

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Providence Gold Mines Inc, an exploration stage company, engages in the acquisition, exploration, and evaluation of mineral properties located in Canada and the United States. The company primarily explores for gold ores. It holds interests in the Providence Mines Property, consisting 7 patented staked mineral claims and 22 located claims, covering an area of approximately 324 acres located in the Summerville Mining District, Sonora, California.

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