Golconda Gold (CVE:GG) Stock Passes Below 50-Day Moving Average – Here’s Why

Golconda Gold Ltd. (CVE:GG) shares crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$0.27 and traded as low as C$0.25. Golconda Gold shares last traded at C$0.26, with a volume of 32,500 shares traded.

Golconda Gold Price Performance

The stock has a 50 day moving average price of C$0.27 and a 200-day moving average price of C$0.26. The company has a debt-to-equity ratio of 16.35, a current ratio of 0.33 and a quick ratio of 0.20. The stock has a market capitalization of C$18.53 million, a price-to-earnings ratio of -6.50 and a beta of 2.80.

Golconda Gold (CVE:GG) last released its earnings results on Monday, August 26th. The company reported C($0.01) earnings per share (EPS) for the quarter. The business had revenue of C$4.08 million for the quarter. Golconda Gold had a negative return on equity of 7.90% and a negative net margin of 24.15%. On average, analysts forecast that Golconda Gold Ltd. will post 0.05 earnings per share for the current year.

Insider Buying and Selling at Golconda Gold

In related news, Director Ravi Sood purchased 500,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was purchased at an average price of C$0.21 per share, with a total value of C$105,000.00. 17.59% of the stock is owned by insiders.

Golconda Gold Company Profile

Golconda Gold Ltd. engages in the exploration, development, and operation of gold mining properties in Canada, the United States, and South Africa. It operates the Galaxy Property situated in the Republic of South Africa. The company was formerly known as Galane Gold Ltd. and changed its name to Golconda Gold Ltd.