Chesapeake Gold (CVE:CKG) Stock Crosses Below Fifty Day Moving Average – Here’s Why

Chesapeake Gold Corp. (CVE:CKG) crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$4.17 and traded as low as C$3.86. Chesapeake Gold shares last traded at C$4.03, with a volume of 190,590 shares changing hands.

Chesapeake Gold Price Performance

The company has a market cap of C$309.85 million, a PE ratio of -67.17 and a beta of 1.59. The company has a 50-day moving average price of C$4.17 and a two-hundred day moving average price of C$2.98.

Insiders Place Their Bets

In other Chesapeake Gold news, insider Alan Nigel Pangbourne sold 83,800 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of C$4.09, for a total value of C$342,742.00. Following the completion of the transaction, the insider owned 7,245,000 shares in the company, valued at C$29,632,050. This represents a 1.14% decrease in their position. In the last three months, insiders sold 154,300 shares of company stock valued at $606,397. 32.91% of the stock is owned by corporate insiders.

Chesapeake Gold Company Profile

Chesapeake Gold Corp., a mineral exploration and evaluation company, focuses on acquisition, evaluation, and development of precious metal deposits in North and Central America. The company primarily explores for gold and silver deposits. Its flagship project is the Metates project that includes 14 mining concessions covering an area of 14,727 hectares located in Durango State, Mexico. Chesapeake Gold Corp. was founded in 1993 and is headquartered in Vancouver, Canada.