GoGold Resources (TSE:GGD) Shares Up 1.7% – Time to Buy?

GoGold Resources Inc. (TSE:GGD) shares were up 1.7% on Monday . The stock traded as high as C$2.40 and last traded at C$2.35. Approximately 3,239,872 shares traded hands during mid-day trading, an increase of 22% from the average daily volume of 2,662,543 shares. The stock had previously closed at C$2.31.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus set a C$5.25 target price on shares of GoGold Resources and gave the stock a “buy” rating in a report on Monday, March 2nd. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, GoGold Resources presently has an average rating of “Buy” and a consensus price target of C$5.25.

GoGold Resources Stock Up 1.7%

The company has a market cap of C$1.02 billion, a P/E ratio of 29.01 and a beta of 1.36. The stock has a 50 day moving average price of C$3.27 and a two-hundred day moving average price of C$2.90.

GoGold Resources (TSE:GGD) last released its quarterly earnings results on Wednesday, February 11th. The company reported C$0.05 earnings per share (EPS) for the quarter. The business had revenue of C$42.69 million during the quarter. GoGold Resources had a return on equity of 10.23% and a net margin of 44.59%. Equities analysts anticipate that GoGold Resources Inc. will post 0.0349744 EPS for the current 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.