Mandalay Resources (TSE:MND) Shares Cross Above 200 Day Moving Average – Here’s Why

Mandalay Resources Corp. (TSE:MND) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$4.19 and traded as high as C$5.20. Mandalay Resources shares last traded at C$5.16, with a volume of 297,113 shares trading hands.

Mandalay Resources Stock Performance

The firm has a 50 day moving average of C$4.93 and a 200-day moving average of C$4.19. The company has a market cap of C$341.74 million, a P/E ratio of 11.36 and a beta of 0.43. The company has a quick ratio of 0.89, a current ratio of 2.00 and a debt-to-equity ratio of 2.46.

Insiders Place Their Bets

In other news, Senior Officer Frazer William Bourchier sold 27,692 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of C$4.70, for a total value of C$130,152.40. Company insiders own 1.68% of the company’s stock.

Mandalay Resources Company Profile

Mandalay Resources Corporation, a natural resource company, engages in the acquisition, exploration, extraction, processing, and reclamation of various mineral properties. It explores for gold, silver, and antimony deposits. The company holds a 100% interest in the Costerfield gold-antimony mine covering an area of 7,540.78 hectares (ha) located in Central Victoria, Australia; and the Bjorkdal gold mine that comprises 9 mining concessions and 19 exploration permits located in Vasterbotten County in northern Sweden.