K2 Gold (CVE:KTO) Shares Up 14.1% - Time to Buy?

Key Points

• K2 Gold's shares jumped 14.1% to C$0.81 during mid-day trading on Wednesday, with 354,424 shares traded—slightly above the average session volume of 343,296.
• The stock is trading above its 50-day (C$0.75) and 200-day (C$0.64) moving averages, has a market cap of C$192.16 million and a negative P/E of -82.00, reflecting lack of current profitability.
• K2 Gold is a junior gold and silver exploration company headquartered in Vancouver, with its flagship Mojave Gold project in California.

K2 Gold Co. (CVE:KTO - )'s stock price shot up 14.1% during mid-day trading on Wednesday . The stock traded as high as C$0.81 and last traded at C$0.81. 354,424 shares traded hands during trading, an increase of 3% from the average session volume of 343,296 shares. The stock had previously closed at C$0.71.

K2 Gold Price Performance

The company has a 50-day simple moving average of C$0.75 and a 200-day simple moving average of C$0.64. The firm has a market cap of C$192.16 million, a PE ratio of -82.00 and a beta of 1.06.

About K2 Gold

K2 Gold Corporation, a junior mineral exploration company, acquires, explores for, and evaluates gold exploration projects in Canada and the United States. It also explores for silver metal. The company's flagship property is the Mojave Gold project that covers an area of approximately 5,780 hectares located in California. The company was formerly known as West Melville Metals Inc and changed its name to K2 Gold Corporation in November 2016. K2 Gold Corporation was incorporated in 2011 and is headquartered in Vancouver, Canada.

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