Xtra-Gold Resources (TSE:XTG) Share Price Passes Above 50 Day Moving Average - Here's What Happened

Key Points

• Xtra-Gold Resources' share price has recently surpassed its 50-day moving average of C$2.40, reaching a high of C$3.02 during trading, and closing at C$2.95.
• The company has a market capitalization of C$135.11 million and a PE ratio of 73.75, indicating strong growth expectations among investors.
• Xtra-Gold Resources is focused on gold exploration in the Kibi Gold Belt, which has seen limited modern exploration despite its geological similarities to Ghana's prolific Ashanti Belt.

Xtra-Gold Resources Corp. (TSE:XTG - )'s share price passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of C$2.40 and traded as high as C$3.02. Xtra-Gold Resources shares last traded at C$2.95, with a volume of 19,014 shares changing hands.

Xtra-Gold Resources Stock Down 2.0%

The firm has a market capitalization of C$135.11 million, a PE ratio of 73.75 and a beta of 0.25. The stock has a 50-day moving average price of C$2.40 and a 200 day moving average price of C$2.18.

About Xtra-Gold Resources

Xtra-Gold Resources Corp is a gold exploration company with a substantial land position in the Kibi Gold Belt. The Kibi Gold Belt, which exhibits many similar geological features to Ghana's main gold belt, the Ashanti Belt, has been the subject of very limited modern exploration activity targeting lode gold deposits as virtually all past gold mining activity and exploration efforts focused on the extensive alluvial gold occurrences in many river valleys throughout the Kibi area.

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