Gossan Resources (CVE:GSS) Shares Up 33.3% – Should You Buy?

Shares of Gossan Resources Limited (CVE:GSS) shot up 33.3% during mid-day trading on Wednesday . The company traded as high as C$0.04 and last traded at C$0.04. 540,000 shares were traded during mid-day trading, an increase of 469% from the average session volume of 94,935 shares. The stock had previously closed at C$0.03.

Gossan Resources Price Performance

The firm’s 50 day moving average price is C$0.03 and its 200 day moving average price is C$0.03. The stock has a market capitalization of C$2.70 million, a P/E ratio of -4.00 and a beta of -1.27.

Gossan Resources Company Profile

Gossan Resources Limited, an exploration and evaluation stage company, engages in the acquisition, exploration, and development of resource properties in Canada. It holds interest in the Glitter property located in the Sturgeon Lake Greenstone Belt of Northwestern Ontario; the Gander Gold property covers an area of 8,875 hectares situated in Newfoundland; and the Weir Pond project covers an area of 975 hectares and the Island Pond properties cover an area of 1,050 hectares located in Newfoundland.