Visible Gold Mines (CVE:VGD) Trading Down 15.6% – Time to Sell?

Shares of Visible Gold Mines Inc. (CVE:VGD) fell 15.6% during trading on Friday . The stock traded as low as C$0.13 and last traded at C$0.14. 125,000 shares changed hands during mid-day trading, an increase of 154% from the average daily volume of 49,255 shares. The stock had previously closed at C$0.16.

Visible Gold Mines Price Performance

The company has a current ratio of 10.43, a quick ratio of 1.56 and a debt-to-equity ratio of 1.86. The business’s 50-day simple moving average is C$0.15 and its two-hundred day simple moving average is C$0.17. The firm has a market cap of C$5.02 million, a price-to-earnings ratio of 1.69 and a beta of 0.63.

Insider Activity at Visible Gold Mines

In other news, Director Jean-Marc Lacoste acquired 300,000 shares of Visible Gold Mines stock in a transaction dated Thursday, July 9th. The shares were bought at an average cost of C$0.12 per share, with a total value of C$36,000.00. Following the purchase, the director owned 700,000 shares in the company, valued at C$84,000. This trade represents a 75.00% increase in their position. Over the last 90 days, insiders have acquired 515,000 shares of company stock valued at $62,550. Corporate insiders own 15.92% of the company’s stock.

Visible Gold Mines Company Profile

Visible Gold Mines Inc acquires and explores mineral properties in Canada. It primarily explores for gold and lithium deposits. The company was incorporated in 2007 and is based in Rouyn-Noranda, Canada.