Blackrock Silver (CVE:BRC) Trading 28.2% Higher Following Insider Buying Activity

Key Points

• Blackrock Silver Corp. saw a significant stock price increase of 28.2% during trading, reaching a high of C$0.97, with a notable surge in trading volume.
• Insider Eric Sprott purchased 100,000 shares at C$0.61 each, increasing his ownership in the company, while other insiders also bought shares, contributing to a total of 3,083,400 shares acquired in the last ninety days.
• The company specializes in the exploration and development of gold and silver properties in North America, particularly the Tonopah West silver-gold project in Nevada.

Blackrock Silver Corp. (CVE:BRC - Get Free Report) shares shot up 28.2% during trading on Friday following insider buying activity. The stock traded as high as C$0.97 and last traded at C$0.91. 5,114,042 shares were traded during trading, an increase of 590% from the average session volume of 741,235 shares. The stock had previously closed at C$0.71.

Specifically, insider 2176423 Ontario Ltd. bought 781,704 shares of Blackrock Silver stock in a transaction dated Thursday, September 11th. The stock was bought at an average price of C$0.68 per share, with a total value of C$531,558.72. Following the completion of the transaction, the insider owned 48,121,923 shares in the company, valued at C$32,722,907.64. The trade was a 1.65% increase in their position. Also, insider Eric Sprott acquired 781,704 shares of the stock in a transaction on Thursday, September 11th. The shares were bought at an average price of C$0.68 per share, for a total transaction of C$531,558.72. Following the purchase, the insider owned 48,121,923 shares in the company, valued at approximately C$32,722,907.64. This trade represents a 1.65% increase in their ownership of the stock. In related news, insider 2176423 Ontario Ltd. bought 100,000 shares of the business's stock in a transaction dated Monday, August 18th. The stock was purchased at an average cost of C$0.61 per share, for a total transaction of C$60,700.00. Following the transaction, the insider owned 46,540,219 shares in the company, valued at C$28,249,912.93. The trade was a 0.22% increase in their position.

Blackrock Silver Price Performance

The business's 50 day simple moving average is C$0.64 and its 200-day simple moving average is C$0.46. The stock has a market capitalization of C$276.67 million, a price-to-earnings ratio of -10.63 and a beta of 2.31. The company has a quick ratio of 3.14, a current ratio of 8.57 and a debt-to-equity ratio of 0.45.

Blackrock Silver Company Profile

Blackrock Silver Corp. engages in the acquisition, exploration, and development of mineral properties in Canada and the United States. It primarily explores for gold and silver deposits. The company's flagship property is the Tonopah West silver-gold project comprising 100 patented and 83 unpatented lode mining claims covering an area of 10.3 square kilometers located in the Walker Lane trend of western Nevada.