Providence Gold Mines (CVE:PHD) Stock Price Down 20% – Here’s Why

Shares of Providence Gold Mines Inc. (CVE:PHDGet Free Report) dropped 20% during trading on Monday . The stock traded as low as C$0.04 and last traded at C$0.04. Approximately 23,000 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 96,255 shares. The stock had previously closed at C$0.05.

Providence Gold Mines Stock Up 14.3%

The business’s fifty day moving average price is C$0.04 and its 200 day moving average price is C$0.03. The company has a quick ratio of 0.07, a current ratio of 0.03 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of C$2.54 million, a PE ratio of -1.00 and a beta of 2.64.

Providence Gold Mines Company Profile

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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.

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