Great Western Mining (LON:GWMO) Trading Up 20% - Here's Why

Key Points

• Great Western Mining's shares surged 20% in trading, reaching a price of GBX 1.20 ($0.02), with a significant increase in trading volume of 1,455% compared to the average session.
• The company focuses on gold and silver exploration in Nevada, with an estimated gold exploration target ranging from 0.50 million to 1.50 million ounces from multiple prospects.
• Great Western Mining holds a market cap of £88.59 million and has a negative price-to-earnings ratio of -2.35.

Shares of Great Western Mining Co. PLC (LON:GWMO - Get Free Report) rose 20% during trading on Wednesday . The stock traded as high as GBX 1.20 ($0.02) and last traded at GBX 1.20 ($0.02). Approximately 15,331,473 shares traded hands during mid-day trading, an increase of 1,455% from the average daily volume of 986,195 shares. The stock had previously closed at GBX 1 ($0.01).

Great Western Mining Stock Performance

The stock has a market capitalization of £2.13 million, a P/E ratio of -30.00 and a beta of 0.19. The firm's fifty day simple moving average is GBX 0.96 and its 200 day simple moving average is GBX 1.05.

Great Western Mining Company Profile

Great Western Mining (AIM:GWMO/Euronext Growth 8-GW) is focused on exploitation of its gold and silver prospects in the U.S. state of Nevada, where an active exploration and development programme is under way. Its gold exploration target currently ranges from 0.50 million to 1.50 million ounces from multiple prospects and a project is being developed to produce commercial quantities of gold from numerous spoil heaps.