Providence Gold Mines (CVE:PHD) Trading Up 36.4% – What’s Next?

Providence Gold Mines Inc. (CVE:PHD) shot up 36.4% on Tuesday . The company traded as high as C$0.10 and last traded at C$0.08. 318,000 shares changed hands during mid-day trading, an increase of 246% from the average session volume of 91,827 shares. The stock had previously closed at C$0.06.

Providence Gold Mines Price Performance

The company has a quick ratio of 0.07, a current ratio of 0.03 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of C$4.64 million, a price-to-earnings ratio of -5.00 and a beta of 2.53. The stock’s 50 day moving average price is C$0.04 and its two-hundred day moving average price is C$0.03.

About Providence Gold Mines

Providence Gold Mines Inc, an exploration stage company, engages in the acquisition, exploration, and evaluation of mineral properties located in Canada and the United States. The company primarily explores for gold ores. It holds interests in the Providence Mines Property, consisting 7 patented staked mineral claims and 22 located claims, covering an area of approximately 324 acres located in the Summerville Mining District, Sonora, California.