Providence Gold Mines (CVE:PHD) Trading Down 28.6% – Time to Sell?

Providence Gold Mines Inc. (CVE:PHD)’s stock price fell 28.6% during trading on Wednesday . The stock traded as low as C$0.05 and last traded at C$0.05. 156,353 shares changed hands during trading, an increase of 70% from the average session volume of 91,915 shares. The stock had previously closed at C$0.07.

Providence Gold Mines Stock Down 28.6%

The company has a current ratio of 0.03, a quick ratio of 0.07 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of C$3.26 million, a price-to-earnings ratio of -1.25 and a beta of 1.98. The firm has a 50 day moving average price of C$0.06 and a two-hundred day moving average price of C$0.04.

Providence Gold Mines Company Profile

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. The company was formerly known as Red Hut Metals Inc and changed its name to Providence Gold Mines Inc in July 2017.