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

Key Points

• Goldquest Mining Corp. shares surged 23% during trading on Thursday, reaching a high of C$1.55, with trading volume increasing by 826% from the average session volume.
• Insider trading activity included the sale of 200,000 shares by Luis Santana and 171,900 shares by Director Florian Siegfried, indicating a total decrease in insider ownership by 11.08% and 1.51%, respectively.
• The company focuses on gold and copper exploration in the Dominican Republic, holding a 100% interest in the Romero gold-copper project and additional concessions in the Tireo property.

Goldquest Mining Corp. (CVE:GQC - )'s share price traded up 23% during trading on Thursday . The company traded as high as C$1.55 and last traded at C$1.55. 1,473,370 shares changed hands 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 Stock Performance

The business's 50 day simple moving average is C$0.96 and its 200-day simple moving average is C$0.75. The company has a market cap of C$528.59 million, a price-to-earnings ratio of -155.00 and a beta of 0.92.

Insiders Place Their Bets

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

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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