GoGold Resources (TSE:GGD) Shares Up 4.4% - Here's Why

Key Points

• GoGold Resources Inc. saw its share price increase by 4.4%, reaching a last trading price of C$2.87 following a significant trading volume spike of 1,297,089 shares.
• Insider Glenn Jessome sold 185,600 shares at an average price of C$2.66, representing a 28% decrease in their ownership of the company.
• The company focuses on the exploration and production of gold and silver, primarily from its projects in Mexico and Canada.

GoGold Resources Inc. (TSE:GGD - )'s share price shot up 4.4% during trading on Wednesday . The company traded as high as C$2.91 and last traded at C$2.87. 1,297,089 shares changed hands during mid-day trading, an increase of 57% from the average session volume of 828,434 shares. The stock had previously closed at C$2.75.

GoGold Resources Price Performance

The business has a 50-day simple moving average of C$2.51 and a 200 day simple moving average of C$2.15. The firm has a market cap of C$1.09 billion, a PE ratio of 82.00 and a beta of 1.09.

Insider Activity

In other GoGold Resources news, insider Glenn Jessome sold 185,600 shares of GoGold Resources stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of C$2.66, for a total transaction of C$493,696.00. Following the transaction, the insider owned 477,205 shares of the company's stock, valued at C$1,269,365.30. The trade was a 28.00% decrease in their ownership of the stock. In the last ninety days, insiders sold 748,000 shares of company stock worth $1,974,414. Insiders own 6.41% of the company's stock.

GoGold Resources Company Profile

GoGold Resources Inc is a Canadian-based company engaged in the business of exploration, development, and production of gold and silver. It operates in two segments: Mexico, which accounts for the majority of revenue; and Canada. Its Mexico segment consists of the Parral project and the Los Ricos project.

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