Independence Gold (CVE:IGO) Trading Up 12.9% – Here’s What Happened

Independence Gold Corp. (CVE:IGO) was up 12.9% during mid-day trading on Friday . The company traded as high as C$0.17 and last traded at C$0.17. 703,251 shares changed hands during trading, an increase of 82% from the average daily volume of 386,278 shares. The stock had previously closed at C$0.15.

Independence Gold Price Performance

The company has a market capitalization of C$46.19 million, a PE ratio of -5.83 and a beta of 0.29. The company has a quick ratio of 0.38, a current ratio of 2.52 and a debt-to-equity ratio of 1.31. The firm’s 50-day moving average is C$0.12 and its 200-day moving average is C$0.11.

Insider Activity

In other news, insider Gestion Bouca Inc acquired 1,780,000 shares of Independence Gold stock in a transaction dated Saturday, June 27th. The shares were purchased at an average cost of C$0.10 per share, for a total transaction of C$178,000.00. Following 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. In the last three months, insiders bought 8,295,184 shares of company stock valued at $917,741. 12.50% of the stock is currently owned by corporate 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.