Golden Arrow Resources (CVE:GRG) Trading 15% Higher – Still a Buy?

Golden Arrow Resources Co. (CVE:GRG) shares shot up 15% on Tuesday . The company traded as high as C$0.12 and last traded at C$0.12. 169,005 shares were traded during trading, a decline of 6% from the average daily volume of 180,435 shares. The stock had previously closed at C$0.10.

Golden Arrow Resources Stock Up 15.0%

The company has a market cap of C$19.51 million, a P/E ratio of -5.75 and a beta of 1.31. The company’s 50-day moving average is C$0.10 and its two-hundred day moving average is C$0.09.

Insiders Place Their Bets

In other news, insider Diego Martin Pestana bought 926,726 shares of the stock in a transaction on Friday, July 10th. The shares were acquired at an average cost of C$0.08 per share, for a total transaction of C$74,138.08. Following the purchase, the insider directly owned 22,969,123 shares of the company’s stock, valued at C$1,837,529.84. This trade represents a 4.20% increase in their position. 7.82% of the stock is owned by insiders.

About Golden Arrow Resources

Golden Arrow Resources Corporation, a natural resource company, engages in the acquisition, exploration, and development resource properties in South America. The company explores for iron, copper, gold, cobalt, and silver deposits. Its flagship project is the 100% owned San Pietro Fe-Cu-Au-Co Project covering an area of 18,448 Ha located in Chile. Golden Arrow Resources Corporation was incorporated in 2015 and is based in Vancouver, Canada.Golden Arrow Resources Corporation operates as a subsidiary of Grosso Group Management Ltd.