Providence Gold Mines (CVE:PHD) Shares Up 42.9% – Time to Buy?

by · The Markets Daily

Providence Gold Mines Inc. (CVE:PHD – Get Free Report) shares rose 42.9% on Saturday . The company traded as high as C$0.05 and last traded at C$0.05. Approximately 273,000 shares traded hands during trading, an increase of 182% from the average daily volume of 96,785 shares. The stock had previously closed at C$0.04.

Providence Gold Mines Stock Performance

The stock has a market capitalization of C$3.18 million, a price-to-earnings ratio of -1.25 and a beta of 2.64. The company has a current ratio of 0.03, a quick ratio of 0.07 and a debt-to-equity ratio of 0.42. The firm has a 50-day moving average of C$0.04 and a 200-day moving average of C$0.03.

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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