Scorpio Gold (CVE:SGN) Shares Down 5.3% - Here's Why

Key Points

• Scorpio Gold shares dropped by 5.3%, trading down to C$0.36 with a volume of 369,007 shares, which is 11% lower than its average daily trading volume.
• The company's stock maintains a market cap of C$79.33 million and has a PE ratio of -2.22, indicating negative earnings performance.
• Director Peter Leofric Hathaway recently acquired 1,500,000 shares at C$0.20 each, showcasing insider confidence in the company.

Scorpio Gold Co. (CVE:SGN - ) was down 5.3% during mid-day trading on Friday . The stock traded as low as C$0.35 and last traded at C$0.36. Approximately 369,007 shares changed hands during mid-day trading, a decline of 11% from the average daily volume of 414,444 shares. The stock had previously closed at C$0.38.

Scorpio Gold Stock Performance

The company has a debt-to-equity ratio of 14.76, a quick ratio of 0.39 and a current ratio of 0.09. The stock has a market cap of C$79.33 million, a PE ratio of -2.22 and a beta of 2.11. The firm has a fifty day moving average price of C$0.38 and a 200 day moving average price of C$0.24.

Insider Buying and Selling

In other Scorpio Gold news, Director Peter Leofric Hathaway purchased 1,500,000 shares of the stock in a transaction on Wednesday, July 30th. The stock was acquired at an average price of C$0.20 per share, with a total value of C$300,000.00. Company insiders own 5.33% of the company's stock.

About Scorpio Gold

Scorpio Gold Corporation, together with its subsidiaries, engages in the exploitation, exploration, and development of mineral resource properties in the United States. It primarily explores for gold and silver deposits. The company holds 100% interests in the Mineral Ridge gold project covering an area of 5,617 hectares located in Esmeralda County, Nevada; and Goldwedge property that covers an area of 726 hectares located in Manhattan, Nevada.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.