Providence Gold Mines (CVE:PHD) Shares Up 36.4% – Here’s Why

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

Providence Gold Mines Stock Down 20.0 %

The firm’s 50-day moving average price is C$0.04 and its 200 day moving average price is C$0.03. The company has a current ratio of 0.03, a quick ratio of 0.07 and a debt-to-equity ratio of 0.42. The company has a market capitalization of C$3.71 million, a price-to-earnings ratio of -5.00 and a beta of 2.53.

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.