Providence Gold Mines (CVE:PHD) Trading Up 11.1% – Still a Buy?

Providence Gold Mines Inc. (CVE:PHD) shares shot up 11.1% on Monday . The company traded as high as C$0.05 and last traded at C$0.05. 105,000 shares traded hands during trading, an increase of 72% from the average session volume of 60,970 shares. The stock had previously closed at C$0.04.

Providence Gold Mines Price Performance

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 firm has a market cap of C$3.54 million, a PE ratio of -1.12 and a beta of 1.22. The stock has a 50 day simple moving average of C$0.05 and a 200-day simple moving average of C$0.06.

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.