Canagold Resources (TSE:CCM) Trading 10.5% Higher – Here’s Why

Canagold Resources Ltd. (TSE:CCM)’s stock price was up 10.5% during mid-day trading on Monday . The company traded as high as C$0.63 and last traded at C$0.63. Approximately 194,048 shares changed hands during mid-day trading, an increase of 141% from the average daily volume of 80,451 shares. The stock had previously closed at C$0.57.

Analyst Ratings Changes

Separately, Atrium Research raised Canagold Resources to a “strong-buy” rating in a research report on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Strong Buy”.

Canagold Resources Price Performance

The firm has a 50 day moving average price of C$0.45 and a two-hundred day moving average price of C$0.45. The company has a market cap of C$135.78 million, a P/E ratio of -70.00 and a beta of 0.48. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.61 and a current ratio of 2.34.

Canagold Resources (TSE:CCM) last issued its earnings results on Friday, November 14th. The mining company reported C$0.00 earnings per share for the quarter.

Canagold Resources Company Profile

Canagold owns a portfolio of Gold and Silver projects located in North America. The company’s flagship asset is New Polaris – an advanced and past-producing, high-grade gold project in northern British Columbia, Canada. The company has a fully funded work program underway at New Polaris, and is currently advancing the project to feasibility status. CanaGold is managed by an experienced team with a strong track record of exploration, development and finance.