Wishbone Gold (LON:WSBN) Reaches New 1-Year Low – Should You Sell?

Shares of Wishbone Gold Plc (LON:WSBN) hit a new 52-week low on Friday . The company traded as low as GBX 20.50 and last traded at GBX 21.50, with a volume of 276504 shares changing hands. The stock had previously closed at GBX 21.25.

Wishbone Gold Stock Up 1.2%

The firm’s 50 day simple moving average is GBX 22.26 and its 200-day simple moving average is GBX 28.57. The company has a market capitalization of £8.16 million, a PE ratio of -537.50 and a beta of 1.58.

Wishbone Gold (LON:WSBN) last announced its earnings results on Tuesday, June 30th. The company reported GBX (0.04) earnings per share for the quarter. Wishbone Gold had a negative net margin of 685.01% and a negative return on equity of 12.39%.

Wishbone Gold Company Profile

Wishbone Gold Plc is listed in London on the LSE AIM market and the AQUIS stock exchange.

It has three major exploration properties in Australia and three minor prospects. Two of these are located in the Pilbara region of Western Australia and the third is in the Mingela-Charters Towers region in Queensland.

The company’s flagship project is Red Setter located approximately 13km south west of Newcrest’s Telfer operations. Red Setter is a Havieron style gold prospect. Cottlesloe, 35km south east of Red Setter, has deposits visible at surface of silver and lead: metals which are essential for battery and electric car production.

In Queensland the Wishbone II project has almost doubled recently with the addition of Wishbone VI.