White Gold (CVE:WGO) Shares Down 3.2% - Should You Sell?

Key Points

• White Gold Corp. (CVE:WGO) shares fell by 3.2%, trading between C$0.90 and C$0.91, with a significant decline in trading volume compared to its average daily volume.
• Insider transactions indicate confidence, with Director David D'onofrio purchasing 75,000 shares at C$0.56 and Agnico Eagle Mines Limited acquiring 3 million shares at C$0.29, totaling substantial investments in the company.
• The company, focused on the exploration and development of mineral properties in Canada, boasts a market capitalization of C$175.91 million and a PE ratio of -89.00.

White Gold Corp. (CVE:WGO - ) shares were down 3.2% during trading on Monday . The company traded as low as C$0.90 and last traded at C$0.91. Approximately 122,315 shares traded hands during trading, a decline of 76% from the average daily volume of 511,016 shares. The stock had previously closed at C$0.94.

White Gold Stock Performance

The stock has a market capitalization of C$175.91 million, a PE ratio of -89.00 and a beta of 0.95. The business's 50-day moving average price is C$0.57 and its 200 day moving average price is C$0.38.

Insiders Place Their Bets

In related news, Director David D'onofrio purchased 75,000 shares of White Gold stock in a transaction on Tuesday, August 26th. The shares were bought at an average cost of C$0.56 per share, for a total transaction of C$41,625.00. Following the acquisition, the director owned 4,065,522 shares in the company, valued at approximately C$2,256,364.71. The trade was a 1.88% increase in their position. Also, insider Agnico Eagle Mines Limited bought 3,000,000 shares of White Gold stock in a transaction dated Wednesday, July 23rd. The stock was acquired at an average price of C$0.29 per share, for a total transaction of C$870,000.00. Over the last quarter, insiders have acquired 5,267,500 shares of company stock worth $1,583,213. 51.30% of the stock is currently owned by company insiders.

About White Gold

White Gold Corp. engages in the acquisition, exploration, and development of mineral properties in Canada. The company primarily explores for gold, copper, molybdenum, and silver deposits. Its flagship project is the Golden Saddle and Arc deposits in the White Gold property located in Dawson City, Yukon.

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