Independence Gold (CVE:IGO) Stock Price Up 12.9% – Here’s What Happened

Independence Gold Corp. (CVE:IGO) shares shot up 12.9% on Friday . The company traded as high as C$0.17 and last traded at C$0.17. 703,251 shares traded hands during mid-day trading, an increase of 82% from the average session volume of 386,278 shares. The stock had previously closed at C$0.15.

Independence Gold Stock Up 12.9%

The company has a market cap of C$46.19 million, a PE ratio of -5.83 and a beta of 0.29. The stock’s 50 day moving average price is C$0.12 and its 200-day moving average price is C$0.11. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.38 and a current ratio of 2.52.

Insiders Place Their Bets

In other Independence Gold news, insider Gestion Bouca Inc purchased 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, with a total value of C$28,730.00. Following the completion of the purchase, the insider directly owned 37,114,184 shares of the company’s stock, valued at approximately C$4,824,843.92. This trade represents a 0.60% increase in their position. Insiders have acquired 8,295,184 shares of company stock valued at $917,741 over the last ninety days. Insiders own 12.50% of the company’s stock.

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.