Golden Metal Resources (LON:GMET) Reaches New 12-Month High - Should You Buy?

Key Points

• 52-week high: Golden Metal Resources hit a new 52-week high at GBX 305 (last GBX 301.80) on strong volume and was trading up about 5.4% with a market capitalization of £582.99 million.
• The company remains loss-making with a negative P/E of -75.13, but technical momentum looks strong as the 50-day moving average (GBX 229.66) sits well above the 200-day moving average (GBX 159.58).
• Insider buying: Executives Ben Hodges and J.T. Starzecki recently bought shares, and insiders have purchased 74,851 shares worth about $11.03 million in the past 90 days, representing 1.67% insider ownership.

Golden Metal Resources PLC (LON:GMET - )'s stock price hit a new 52-week high on Tuesday . The stock traded as high as GBX 305 and last traded at GBX 301.80, with a volume of 93610 shares changing hands. The stock had previously closed at GBX 285.

Golden Metal Resources Trading Up 5.4%

The stock has a market capitalization of £582.99 million, a P/E ratio of -75.13 and a beta of 1.07. The company's 50-day moving average is GBX 229.66 and its two-hundred day moving average is GBX 159.58.

Insider Activity at Golden Metal Resources

In other news, insider Ben Hodges acquired 17,501 shares of the business's stock in a transaction that occurred on Wednesday, January 7th. The shares were purchased at an average cost of GBX 143 per share, for a total transaction of £25,026.43. Also, insider J.T Starzecki purchased 37,250 shares of Golden Metal Resources stock in a transaction on Monday, January 12th. The shares were acquired at an average price of GBX 149 per share, with a total value of £55,502.50. Insiders have bought a total of 74,851 shares of company stock worth $11,027,693 in the last ninety days. 1.67% of the stock is owned by insiders.

About Golden Metal Resources

Guardian Metal Resources plc (“GMET”) is listed on LON as well as on the OTCQX (“GMTLF”) and holds resource development and exploration stage mineral projects in the mining friendly state of Nevada, USA.

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