Canagold Resources (TSE:CCM) Stock Price Up 10.5% – What’s Next?

Canagold Resources Ltd. (TSE:CCM)’s stock price shot up 10.5% during mid-day trading on Monday . The company traded as high as C$0.63 and last traded at C$0.63. 194,048 shares traded hands during trading, an increase of 141% from the average session volume of 80,451 shares. The stock had previously closed at C$0.57.

Wall Street Analyst Weigh In

Separately, Atrium Research upgraded Canagold Resources to a “strong-buy” rating in a research note on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, Canagold Resources has an average rating of “Strong Buy”.

Canagold Resources Stock Up 22.8%

The company has a market cap of C$135.78 million, a P/E ratio of -70.00 and a beta of 0.48. The company has a 50 day moving average of C$0.45 and a 200-day moving average of C$0.45. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.34 and a quick ratio of 0.61.

Canagold Resources (TSE:CCM) last released its quarterly earnings results on Friday, November 14th. The mining company reported C$0.00 earnings per share for the quarter.

Canagold Resources Company Profile

Canagold owns a portfolio of Gold and Silver projects located in North America. The company’s flagship asset is New Polaris – an advanced and past-producing, high-grade gold project in northern British Columbia, Canada. The company has a fully funded work program underway at New Polaris, and is currently advancing the project to feasibility status. CanaGold is managed by an experienced team with a strong track record of exploration, development and finance.