Generation Mining (TSE:GENM) Trading Down 3.1% - Here's What Happened

Key Points

• Generation Mining shares fell by 3.1% to C$0.32, with trading volume increasing 17% compared to the average daily volume.
• Director Jamie Levy purchased 172,500 shares at C$0.32 per share, indicating confidence in the company's future performance.
• The company is developing the Marathon Palladium-Copper project, which is projected to produce 245,000 ounces of palladium-equivalent annually over a 13-year lifespan.

Shares of Generation Mining Limited (TSE:GENM - ) dropped 3.1% during mid-day trading on Friday . The company traded as low as C$0.31 and last traded at C$0.32. Approximately 381,295 shares were traded during mid-day trading, an increase of 17% from the average daily volume of 325,045 shares. The stock had previously closed at C$0.33.

Generation Mining Trading Down 3.2%

The company has a quick ratio of 3.61, a current ratio of 3.05 and a debt-to-equity ratio of -3.94. The firm has a market cap of C$72.28 million, a price-to-earnings ratio of -3.26 and a beta of 1.64. The business has a 50 day moving average price of C$0.35 and a 200-day moving average price of C$0.24.

Insiders Place Their Bets

In other Generation Mining news, Director Jamie Levy acquired 172,500 shares of the stock in a transaction on Wednesday, July 9th. The stock was purchased at an average price of C$0.32 per share, for a total transaction of C$54,337.50. 20.36% of the stock is currently owned by company insiders.

About Generation Mining

Generation Mining is developing the Marathon Palladium-Copper project in Northwestern Ontario. The Company has completed a feasibility study which estimates 245,000 ounces of annual palladium-equivalent production over a 13-year mine life. Marathon is the largest undeveloped palladium project in North America.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.