Rusoro Mining (CVE:RML) Stock Price Up 15% – Here’s What Happened

Rusoro Mining Ltd. (CVE:RML) shot up 15% during trading on Friday. The stock traded as high as C$1.15 and last traded at C$1.15. Approximately 145,500 shares changed hands during trading, a decline of 68% from the average daily volume of 457,447 shares. The stock had previously closed at C$1.00.

Rusoro Mining Stock Performance

The firm has a market capitalization of C$736.32 million, a price-to-earnings ratio of -2.87 and a beta of -0.17. The business has a fifty day moving average of C$1.14 and a two-hundred day moving average of C$1.12.

Insiders Place Their Bets

In related news, Director Andre Vladimir Agapov acquired 31,200 shares of the firm’s stock in a transaction on Wednesday, October 14th. The shares were purchased at an average cost of C$1.02 per share, for a total transaction of C$31,824.00. Following the completion of the acquisition, the director directly owned 61,220,867 shares in the company, valued at approximately C$62,445,284.34. This trade represents a 0.05% increase in their ownership of the stock. Also, Director Gordon Keep sold 1,000,000 shares of the stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of C$1.20, for a total transaction of C$1,200,000.00. Following the completion of the transaction, the director directly owned 11,583,000 shares in the company, valued at C$13,899,600. The trade was a 7.95% decrease in their ownership of the stock. Insiders purchased a total of 6,901,500 shares of company stock valued at $8,204,487 over the last ninety days. 29.16% of the stock is currently owned by company insiders.

About Rusoro Mining

Rusoro Mining Ltd. engages in the acquisition, exploration, development, and operation of gold mineral properties in Venezuela. It primarily holds 95% interests in the Choco 10 mine; and 50% interest in the Isidora mine located in the El Callao district in south-eastern Venezuela. The company was formerly known as Newton Ventures Inc and changed its name to Rusoro Mining Ltd. in November 2006. The company is headquartered in Vancouver, Canada.