Independence Gold (CVE:IGO) Shares Up 20.8% – What’s Next?

Independence Gold Corp. (CVE:IGO)’s stock price traded up 20.8% during mid-day trading on Wednesday . The stock traded as high as C$0.15 and last traded at C$0.14. 1,659,132 shares traded hands during trading, an increase of 342% from the average session volume of 375,436 shares. The stock had previously closed at C$0.12.

Independence Gold Stock Up 3.3%

The company has a current ratio of 4.62, a quick ratio of 0.38 and a debt-to-equity ratio of 1.13. The company has a market capitalization of C$40.91 million, a P/E ratio of -5.17 and a beta of 0.29. The stock has a 50 day moving average price of C$0.11 and a 200 day moving average price of C$0.10.

Insider Buying and Selling

In other news, insider Gestion Bouca Inc bought 1,780,000 shares of the company’s stock in a transaction on Saturday, June 27th. The stock was purchased at an average cost of C$0.10 per share, for a total transaction of C$178,000.00. Following the completion of the transaction, the insider owned 31,771,000 shares of the company’s stock, valued at C$3,177,100. This trade represents a 5.94% increase in their ownership of the stock. Insiders bought 8,295,184 shares of company stock valued at $917,741 in the last ninety days. 12.50% of the stock is currently owned by company insiders.

About Independence Gold

Independence Gold Corp. engages in the acquisition, exploration, and evaluation of precious metal properties in Canada and North America. It explores for gold and silver deposits. The company holds 100% interest in the 3Ts Project comprising six claim groups and consist of seventy mineral claims covering an approximately 8,840 hectares located in the Nechako Plateau region of central British Columbia; and the Laidman Project comprising six mineral tenures covering an approximately 10,800 hectares located in the British Columbia.