Providence Gold Mines (CVE:PHD) Shares Up 22.2% – Should You Buy?

Providence Gold Mines Inc. (CVE:PHDGet Free Report)’s stock price shot up 22.2% during mid-day trading on Friday . The company traded as high as C$0.06 and last traded at C$0.06. 118,000 shares traded hands during mid-day trading, an increase of 24% from the average session volume of 95,034 shares. The stock had previously closed at C$0.05.

Providence Gold Mines Stock Up 22.2%

The company has a quick ratio of 0.07, a current ratio of 0.03 and a debt-to-equity ratio of 0.42. The company has a market capitalization of C$3.50 million, a P/E ratio of -1.38 and a beta of 2.64. The firm has a fifty day simple moving average of C$0.04 and a 200-day simple 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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