Goldquest Mining (CVE:GQC) Trading 23% Higher - Here's What Happened

Key Points

• Goldquest Mining Corp. shares surged 23% on Friday, reaching C$1.55, with trading volume increasing by 826% compared to the average.
• Company insiders, including Director Florian Siegfried and insider Luis Santana, recently sold significant shares, indicating a 1.51% and 11.08% decrease in their positions respectively.
• Goldquest Mining is engaged in exploring gold and copper deposits in the Dominican Republic, notably owning the Romero gold-copper project and the Tireo property.

Shares of Goldquest Mining Corp. (CVE:GQC - ) traded up 23% on Friday . The company traded as high as C$1.55 and last traded at C$1.55. 1,473,370 shares were traded during mid-day trading, an increase of 826% from the average session volume of 159,042 shares. The stock had previously closed at C$1.26.

Goldquest Mining Price Performance

The firm has a market cap of C$528.59 million, a PE ratio of -155.00 and a beta of 0.92. The business has a 50-day moving average price of C$0.96 and a two-hundred day moving average price of C$0.75.

Insiders Place Their Bets

In related news, Director Florian Siegfried sold 171,900 shares of Goldquest Mining stock in a transaction dated Monday, October 6th. The stock was sold at an average price of C$1.25, for a total transaction of C$214,875.00. Following the completion of the sale, the director owned 11,200,000 shares in the company, valued at approximately C$14,000,000. This trade represents a 1.51% decrease in their position. Also, insider Luis Santana sold 200,000 shares of Goldquest Mining stock in a transaction dated Friday, October 10th. The stock was sold at an average price of C$1.30, for a total value of C$260,000.00. Following the sale, the insider owned 1,604,941 shares of the company's stock, valued at approximately C$2,086,423.30. This represents a 11.08% decrease in their position. In the last 90 days, insiders sold 500,000 shares of company stock valued at $635,671. Company insiders own 17.36% of the company's stock.

Goldquest Mining Company Profile

Goldquest Mining Corp., together with its subsidiaries, engages in the identification, acquisition, and exploration of mineral properties in the Dominican Republic. The company primarily explores for gold and copper deposits. It primarily owns a 100% interest in the Romero gold-copper project that comprises two mineral deposits covering an area of 3,997 hectares located to the south of the Central Cordillera of Hispaniola; and the Tireo property comprising 13 concessions covering an area of 20,076 hectares located in the province of San Juan de la Maguana, the Dominican Republic.

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