Canagold Resources (TSE:CCM) Trading Down 17.2% – Time to Sell?

Canagold Resources Ltd. (TSE:CCM)’s share price was down 17.2% during trading on Thursday . The stock traded as low as C$0.42 and last traded at C$0.48. Approximately 139,535 shares changed hands during mid-day trading, an increase of 45% from the average daily volume of 96,106 shares. The stock had previously closed at C$0.58.

Analysts Set New Price Targets

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

Canagold Resources Stock Up 7.8%

The company has a 50 day moving average price of C$0.53 and a two-hundred day moving average price of C$0.49. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.34 and a quick ratio of 0.61. The stock has a market cap of C$106.68 million, a PE ratio of -55.00 and a beta of 0.59.

Canagold Resources (TSE:CCM) last released its quarterly earnings data on Friday, November 14th. The mining company reported C$0.00 EPS 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.