Scorpio Gold (CVE:SGN) Stock Price Down 2.4% - Time to Sell?

Key Points

• Scorpio Gold's stock price fell 2.4% to C$0.41 during mid-day trading, with trading volume increasing by 15% compared to its average.
• The company has a debt-to-equity ratio of 14.76 and a market capitalization of C$90.51 million, indicating financial distress.
• Director Peter Leofric Hathaway purchased 1.5 million shares at C$0.20 each, demonstrating insider confidence in the company's future.

Scorpio Gold Co. (CVE:SGN - )'s stock price dropped 2.4% during mid-day trading on Friday . The company traded as low as C$0.40 and last traded at C$0.41. Approximately 459,900 shares changed hands during mid-day trading, an increase of 15% from the average daily volume of 400,597 shares. The stock had previously closed at C$0.42.

Scorpio Gold Trading Down 2.4%

The company has a debt-to-equity ratio of 14.76, a current ratio of 0.09 and a quick ratio of 0.39. The stock has a market capitalization of C$90.51 million, a price-to-earnings ratio of -2.53 and a beta of 1.82. The business has a 50 day simple moving average of C$0.32 and a 200-day simple moving average of C$0.21.

Insider Transactions at Scorpio Gold

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

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