Canagold Resources (TSE:CCM) Stock Price Passes Above 50 Day Moving Average - Here's Why

Key Points

• Canagold Resources Ltd. shares recently surpassed their 50-day moving average of C$0.39, trading as high as C$0.45 with a total volume of 964 shares.
• The company holds a market capitalization of C$55.22 million and is advancing its flagship project, New Polaris, towards feasibility status.
• Insider activity was noted as Senior Officer Catalin Kilofliski sold 93,966 shares at an average price of C$0.45, indicating significant insider trading interest.

Canagold Resources Ltd. (TSE:CCM - Get Free Report)'s share price passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of C$0.39 and traded as high as C$0.45. Canagold Resources shares last traded at C$0.45, with a volume of 964 shares traded.

Canagold Resources Stock Down 4.3%

The firm has a market capitalization of C$54.00 million, a PE ratio of -13.34 and a beta of 0.84. The stock has a 50 day simple moving average of C$0.39 and a 200 day simple moving average of C$0.36. The company has a current ratio of 2.34, a quick ratio of 0.61 and a debt-to-equity ratio of 0.54.

Insider Buying and Selling at Canagold Resources

In related news, Senior Officer Catalin Kilofliski sold 93,966 shares of the company's stock in a transaction on Monday, July 28th. The stock was sold at an average price of C$0.45, for a total transaction of C$42,284.70. 9.17% of the stock is owned by corporate insiders.

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.