Great Western Mining (LON:GWMO) Trading 20% Higher - Should You Buy?

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 - ) traded up 20% during trading on Wednesday . The company traded as high as GBX 1.20 ($0.02) and last traded at GBX 1.20 ($0.02). 15,331,473 shares changed hands during mid-day trading, an increase of 1,455% from the average session volume of 986,195 shares. The stock had previously closed at GBX 1 ($0.01).

Great Western Mining Stock Up 6.1%

The company has a 50 day moving average price of GBX 0.96 and a 200-day moving average price of GBX 1.02. The company has a market cap of £88.59 million, a price-to-earnings ratio of -2.35 and a beta of 0.19.

About Great Western Mining

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.

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