Gossan Resources (CVE:GSS) Shares Up 50% – What’s Next?

Gossan Resources Limited (CVE:GSS)’s stock price shot up 50% during trading on Wednesday . The stock traded as high as C$0.05 and last traded at C$0.05. 432,338 shares changed hands during trading, an increase of 423% from the average session volume of 82,699 shares. The stock had previously closed at C$0.03.

Gossan Resources Stock Performance

The firm’s 50-day simple moving average is C$0.02 and its 200 day simple moving average is C$0.02. The stock has a market capitalization of C$3.04 million, a P/E ratio of -4.50 and a beta of -0.99.

Gossan Resources Company Profile

Gossan Resources Limited, an exploration and evaluation stage company, engages in the acquisition, exploration, and development of resource properties in Canada. It holds interest in the Glitter property located in the Sturgeon Lake Greenstone Belt of Northwestern Ontario; the Gander Gold property covers an area of 8,875 hectares situated in Newfoundland; and the Weir Pond project covers an area of 975 hectares and the Island Pond properties cover an area of 1,050 hectares located in Newfoundland.