Providence Gold Mines (CVE:PHD) Stock Price Down 28.6% – What’s Next?

Providence Gold Mines Inc. (CVE:PHD)’s share price traded down 28.6% on Tuesday . The company traded as low as C$0.05 and last traded at C$0.05. 156,353 shares changed hands during mid-day trading, an increase of 70% from the average session volume of 91,915 shares. The stock had previously closed at C$0.07.

Providence Gold Mines Trading Down 28.6%

The firm has a market capitalization of C$3.26 million, a price-to-earnings ratio of -1.25 and a beta of 1.98. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.07 and a current ratio of 0.03. The company has a 50-day moving average price of C$0.06 and a 200-day moving average price of C$0.04.

Providence Gold Mines Company Profile

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. The company was formerly known as Red Hut Metals Inc and changed its name to Providence Gold Mines Inc in July 2017.