Providence Gold Mines (CVE:PHD) Stock Price Down 28.6% – Here’s Why

Providence Gold Mines Inc. (CVE:PHD)’s share price fell 28.6% during mid-day trading on Tuesday . The company traded as low as C$0.05 and last traded at C$0.05. 156,353 shares traded hands during mid-day trading, an increase of 70% from the average session volume of 91,915 shares. The stock had previously closed at C$0.07.

Providence Gold Mines Stock Performance

The firm has a market capitalization of C$3.26 million, a P/E ratio of -1.25 and a beta of 1.98. The stock’s 50 day moving average is C$0.06 and its two-hundred day moving average is C$0.04. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.03 and a quick ratio of 0.07.

Providence Gold Mines Company Profile

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. The company was formerly known as Red Hut Metals Inc and changed its name to Providence Gold Mines Inc in July 2017.