Golden Arrow Resources (CVE:GRG) Shares Up 17.6% After Insider Buying Activity

Golden Arrow Resources Co. (CVE:GRG) shares were up 17.6% on Tuesday following insider buying activity. The company traded as high as C$0.12 and last traded at C$0.10. 1,400,333 shares were traded during trading, an increase of 634% from the average daily volume of 190,786 shares. The stock had previously closed at C$0.09.

Specifically, insider Diego Martin Pestana bought 926,726 shares of Golden Arrow Resources stock in a transaction that occurred on Friday, July 10th. The shares were bought at an average cost of C$0.08 per share, with a total value of C$74,138.08. Following the transaction, the insider directly owned 22,969,123 shares of the company’s stock, valued at approximately C$1,837,529.84. This represents a 4.20% increase in their position.

Golden Arrow Resources Price Performance

The firm has a market cap of C$16.94 million, a price-to-earnings ratio of -10.00 and a beta of 1.30. The firm has a fifty day simple moving average of C$0.09 and a two-hundred day simple moving average of C$0.08.

About Golden Arrow Resources

Golden Arrow Resources Corporation, a natural resource company, engages in the acquisition, exploration, and development resource properties in South America. The company explores for iron, copper, gold, cobalt, and silver deposits. Its flagship project is the 100% owned San Pietro Fe-Cu-Au-Co Project covering an area of 18,448 Ha located in Chile. Golden Arrow Resources Corporation was incorporated in 2015 and is based in Vancouver, Canada.Golden Arrow Resources Corporation operates as a subsidiary of Grosso Group Management Ltd.