GoGold Resources (TSE:GGD) Trading 24.1% Higher – Should You Buy?

GoGold Resources Inc. (TSE:GGD) shares rose 24.1% on Monday . The company traded as high as C$2.96 and last traded at C$2.94. Approximately 1,740,733 shares changed hands during trading, an increase of 108% from the average daily volume of 838,244 shares. The stock had previously closed at C$2.37.

GoGold Resources Stock Performance

The company has a market cap of C$1.10 billion, a P/E ratio of 83.14 and a beta of 1.21. The firm’s fifty day moving average is C$2.62 and its two-hundred day moving average is C$2.27.

Insider Activity

In related news, insider Glenn Jessome sold 55,000 shares of GoGold Resources stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of C$2.60, for a total transaction of C$143,000.00. Following the sale, the insider owned 773,105 shares of the company’s stock, valued at approximately C$2,010,073. This trade represents a 6.64% decrease in their position. Insiders sold a total of 748,000 shares of company stock worth $1,974,414 in the last three months. Company insiders own 6.41% of the company’s stock.

About GoGold Resources

GoGold Resources Inc is a Canadian-based company engaged in the business of exploration, development, and production of gold and silver. It operates in two segments: Mexico, which accounts for the majority of revenue; and Canada. Its Mexico segment consists of the Parral project and the Los Ricos project.