White Gold (CVE:WGO) Stock Price Down 9.7% - Here's Why

Key Points

• White Gold Corp. (CVE:WGO) shares fell by 9.7% to C$1.30, with over 2 million shares traded, marking a significant increase in trading volume.
• Insider transactions included Director David D'onofrio acquiring 182,500 shares at C$0.48 each, and Agnico Eagle Mines Limited purchasing 3 million shares at C$0.29 each, indicating strong insider confidence.
• The company's current market capitalization is C$260.90 million, and it has a negative price-to-earnings ratio of -132.00.

Shares of White Gold Corp. (CVE:WGO - ) were down 9.7% on Tuesday . The company traded as low as C$1.27 and last traded at C$1.30. Approximately 2,086,964 shares changed hands during trading, an increase of 261% from the average daily volume of 577,796 shares. The stock had previously closed at C$1.44.

White Gold Trading Down 8.3%

The firm has a market capitalization of C$260.90 million, a price-to-earnings ratio of -132.00 and a beta of 1.37. The stock's fifty day moving average price is C$0.67 and its two-hundred day moving average price is C$0.42.

Insider Transactions at White Gold

In other White Gold news, Director David D'onofrio acquired 182,500 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were acquired at an average price of C$0.48 per share, for a total transaction of C$86,687.50. Following the acquisition, the director owned 3,915,522 shares in the company, valued at C$1,859,872.95. The trade was a 4.89% increase in their position. Also, insider Agnico Eagle Mines Limited bought 3,000,000 shares of the business's stock in a transaction dated Wednesday, July 23rd. The shares were acquired at an average cost of C$0.29 per share, for a total transaction of C$870,000.00. In the last ninety days, insiders acquired 5,267,500 shares of company stock valued at $1,583,213. 51.30% of the stock is currently owned by corporate 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.

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.