Unigold (CVE:UGD) Shares Pass Below 50 Day Moving Average – Here’s Why

Unigold Inc. (CVE:UGD)’s stock price passed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of C$0.22 and traded as low as C$0.15. Unigold shares last traded at C$0.17, with a volume of 45,830 shares.

Unigold Price Performance

The firm’s 50-day moving average is C$0.22 and its 200-day moving average is C$0.28. The company has a market capitalization of C$57.60 million, a P/E ratio of -17.00 and a beta of 0.58.

Insider Activity at Unigold

In other Unigold news, Director Jose Francisco Arata sold 200,000 shares of the company’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of C$0.30, for a total value of C$60,000.00. Following the completion of the sale, the director owned 1,050,000 shares in the company, valued at C$315,000. This represents a 16.00% decrease in their ownership of the stock. In the last ninety days, insiders sold 450,000 shares of company stock valued at $113,000. Corporate insiders own 10.11% of the company’s stock.

About Unigold

Unigold Inc, a junior natural resource company, focuses on exploring and developing gold projects in Canada and the Dominican Republic. The company also explores for copper, silver, and zinc deposits. It holds an 100% interest in the Neita property covering an area of 21,031 hectares in the Dominican Republic; and the Candelones Oxide project situated in the Dominican Republic. The company was formerly known as Caribgold Resources Inc and changed its name to Unigold Inc in December 2002. Unigold Inc was incorporated in 1990 and is headquartered in Toronto, Canada.