White Gold (CVE:WGO) Stock Price Down 9.7% - What's Next?

Key Points

• White Gold Corp. (CVE:WGO) shares fell 9.7% to C$1.30, a drop from the previous close of C$1.44, with trading volume increasing significantly to over 2 million shares.
• The company's market capitalization stands at C$260.90 million, reflecting a P/E ratio of -132.00 and its moving averages indicating potential volatility.
• Insider transactions include significant purchases, with insiders acquiring 5.27 million shares valued at approximately $1.58 million, indicating confidence in the company's future prospects.

Shares of White Gold Corp. (CVE:WGO - ) dropped 9.7% during trading 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 mid-day 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 Price Performance

The business's 50-day moving average is C$0.67 and its two-hundred day moving average is C$0.42. The firm has a market cap of C$260.90 million, a P/E ratio of -132.00 and a beta of 1.37.

Insider Activity at White Gold

In related news, insider Pasquale Dicapo purchased 2,000,000 shares of the firm's stock in a transaction on Wednesday, July 23rd. The stock was purchased at an average cost of C$0.29 per share, for a total transaction of C$580,000.00. Also, insider Agnico Eagle Mines Limited acquired 3,000,000 shares of the company's stock in a transaction dated Wednesday, July 23rd. The shares were bought 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 purchased 5,267,500 shares of company stock valued at $1,583,213. 51.30% of the stock is owned by insiders.

White Gold Company Profile

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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