GoGold Resources (TSE:GGD) Trading Down 9.3% – Here’s What Happened

GoGold Resources Inc. (TSE:GGD)’s share price traded down 9.3% during mid-day trading on Friday . The company traded as low as C$2.92 and last traded at C$3.03. 2,774,174 shares were traded during mid-day trading, an increase of 37% from the average session volume of 2,020,390 shares. The stock had previously closed at C$3.34.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Desjardins set a C$5.50 price target on shares of GoGold Resources and gave the stock a “buy” rating in a research note on Friday, April 24th. Stifel Nicolaus set a C$5.25 price target on shares of GoGold Resources and gave the company a “buy” rating in a research report on Monday, March 2nd. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, GoGold Resources has an average rating of “Buy” and a consensus target price of C$5.38.

GoGold Resources Stock Down 9.3%

The company has a market cap of C$1.31 billion, a P/E ratio of 27.80 and a beta of 1.86. The company has a debt-to-equity ratio of 0.20, a current ratio of 9.29 and a quick ratio of 8.30. The company’s 50-day moving average is C$2.96 and its two-hundred day moving average is C$3.01.

GoGold Resources (TSE:GGD) last posted its earnings results on Wednesday, May 6th. The company reported C$0.05 EPS for the quarter. GoGold Resources had a net margin of 52.19% and a return on equity of 12.12%. The business had revenue of C$42.17 million during the quarter. As a group, equities analysts predict that GoGold Resources Inc. will post 0.0349744 earnings per share for the current fiscal year.

About GoGold Resources

GoGold Resources (TSX: GGD) is a Canadian-based silver and gold producer focused on operating, developing, exploring and acquiring high quality projects in Mexico. The Company operates the Parral Tailings mine in the state of Chihuahua and has the Los Ricos South and Los Ricos North exploration and development projects in the state of Jalisco. Headquartered in Halifax, NS, GoGold is building a portfolio of low cost, high margin projects.