Rusoro Mining (CVE:RML) Shares Climb 15% - Here's What Happened

Key Points

• Rusoro Mining shares rose 15% to C$1.15 in mid-day trading, reaching the same level as both its 50-day and 200-day moving averages. Trading volume was about 145,500 shares, 68% below the average session volume.
• Insiders have been buying shares: insiders purchased 6.9 million shares worth approximately $8.2 million over the past 90 days, with insiders now owning 29.16% of the company.
• Rusoro Mining focuses on gold exploration, development and operations in Venezuela, including a 95% interest in the Choco 10 mine and a 50% interest in the Isidora mine.

Rusoro Mining Ltd. (CVE:RML - )'s stock price traded up 15% during mid-day trading on Friday. The company traded as high as C$1.15 and last traded at C$1.15. Approximately 145,500 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 457,447 shares. The stock had previously closed at C$1.00.

Rusoro Mining Price Performance

The firm has a 50-day moving average of C$1.14 and a 200 day moving average of C$1.12. The stock has a market capitalization of C$736.32 million, a price-to-earnings ratio of -2.87 and a beta of -0.17.

Insider Activity

In other news, Director Andre Vladimir Agapov purchased 31,200 shares of the company's stock in a transaction on Wednesday, October 14th. The shares were purchased at an average cost of C$1.02 per share, with a total value of C$31,824.00. Following the completion of the transaction, the director owned 61,220,867 shares of the company's stock, valued at C$62,445,284.34. The trade was a 0.05% increase in their position. Also, insider L.P. Silver Point Capital purchased 1,590,873 shares of the business's stock in a transaction on Thursday, August 13th. The stock was purchased at an average price of C$1.19 per share, with a total value of C$1,893,138.87. Following the purchase, the insider owned 31,624,366 shares of the company's stock, valued at approximately C$37,632,995.54. The trade was a 5.30% increase in their ownership of the stock. In the last 90 days, insiders purchased 6,901,500 shares of company stock valued at $8,204,487. 29.16% of the stock is owned by insiders.

About Rusoro Mining

Rusoro Mining Ltd. engages in the acquisition, exploration, development, and operation of gold mineral properties in Venezuela. It primarily holds 95% interests in the Choco 10 mine; and 50% interest in the Isidora mine located in the El Callao district in south-eastern Venezuela. The company was formerly known as Newton Ventures Inc and changed its name to Rusoro Mining Ltd. in November 2006. The company is headquartered in Vancouver, Canada.

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