First Mining Gold (TSE:FF) Trading Down 2.6% - Should You Sell?

Key Points

• First Mining Gold Corp.'s share price decreased by 2.6%, trading at C$0.28, with a notable increase in trading volume to approximately 1,986,743 shares.
• Insider buying is on the rise; Director Keith Neumeyer purchased 250,000 shares at an average cost of C$0.17 shortly before the current drop.
• The company is focused on the development of the Springpole Gold Project, one of Canada’s largest undeveloped gold projects, with ongoing permitting activities.

First Mining Gold Corp. (TSE:FF - )'s share price was down 2.6% on Wednesday . The stock traded as low as C$0.28 and last traded at C$0.28. Approximately 1,986,743 shares changed hands during mid-day trading, an increase of 41% from the average daily volume of 1,412,924 shares. The stock had previously closed at C$0.29.

First Mining Gold Price Performance

The company has a debt-to-equity ratio of 0.12, a current ratio of 1.30 and a quick ratio of 1.01. The firm has a market capitalization of C$361.13 million, a P/E ratio of -25.86 and a beta of 0.52. The firm's 50 day simple moving average is C$0.20 and its two-hundred day simple moving average is C$0.18.

Insiders Place Their Bets

In other First Mining Gold news, Director Keith Neumeyer purchased 250,000 shares of the stock in a transaction on Friday, July 25th. The stock was acquired at an average cost of C$0.17 per share, with a total value of C$42,500.00. Insiders have acquired 1,725,000 shares of company stock valued at $308,220 over the last ninety days. Insiders own 4.18% of the company's stock.

First Mining Gold Company Profile

First Mining is a Canadian gold developer focused on the development and permitting of the Springpole Gold Project in northwestern Ontario. Springpole is one of the largest undeveloped gold projects in Canada. The results of a positive Pre-Feasibility Study for the Springpole Gold Project were announced by First Mining in January 2021, and permitting activities are on-going with submission of an Environmental Impact Statement for the project targeted for 2021.

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