Klondike Gold (CVE:KG) Shares Down 15.6% – Here’s What Happened

Klondike Gold Corp. (CVE:KG) was down 15.6% during mid-day trading on Wednesday . The stock traded as low as C$0.12 and last traded at C$0.14. 568,490 shares traded hands during mid-day trading, an increase of 166% from the average daily volume of 214,119 shares. The stock had previously closed at C$0.16.

Analysts Set New Price Targets

Separately, Fundamental Research set a C$0.59 price target on Klondike Gold and gave the company a “buy” rating in a report on Tuesday, June 16th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of C$0.59.

Klondike Gold Trading Up 18.5%

The stock has a market capitalization of C$44.50 million, a P/E ratio of -8.00 and a beta of 0.59. The stock’s fifty day moving average price is C$0.17 and its two-hundred day moving average price is C$0.18. The company has a current ratio of 3.84, a quick ratio of 2.08 and a debt-to-equity ratio of 0.38.

Insider Transactions at Klondike Gold

In other news, Director Peter Tallman sold 230,000 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of C$0.17, for a total transaction of C$39,100.00. Following the transaction, the director directly owned 28,873,403 shares of the company’s stock, valued at approximately C$4,908,478.51. This trade represents a 0.79% decrease in their ownership of the stock. 11.16% of the stock is currently owned by insiders.

Klondike Gold Company Profile

Klondike Gold Corp., a resource exploration company, engages in the acquisition, exploration, and development of mineral properties in Canada. The company primarily explores for gold. Its flagship project is the 100% owned Klondike District gold project located in Dawson City, Yukon Territory. The company was formerly known as Arbor Resources Inc and changed its name to Klondike Gold Corp. in January 1996. Klondike Gold Corp. was incorporated in 1978 and is headquartered in Vancouver, Canada.