Xtra-Gold Resources (TSE:XTG) Shares Pass Above 50-Day Moving Average - Here's Why

Key Points

• Xtra-Gold Resources Corp.'s stock price has surpassed its 50-day moving average of C$2.24, reaching a high of C$2.59 during trading.
• The company's market capitalization is approximately C$118.62 million, with a PE ratio of 64.75 and a beta of 0.25.
• Xtra-Gold is a gold exploration firm located in the Kibi Gold Belt, an area with limited modern exploration for lode gold deposits.

Xtra-Gold Resources Corp. (TSE:XTG - Get Free Report) shares passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$2.24 and traded as high as C$2.59. Xtra-Gold Resources shares last traded at C$2.59, with a volume of 900 shares traded.

Xtra-Gold Resources Stock Performance

The stock has a fifty day moving average price of C$2.27 and a 200-day moving average price of C$2.13. The firm has a market capitalization of C$120.91 million, a price-to-earnings ratio of 66.00 and a beta of 0.25.

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.