Chesapeake Gold (CVE:CKG) Shares Cross Below 50-Day Moving Average – Here’s What Happened

Chesapeake Gold Corp. (CVE:CKG) shares crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of C$4.03 and traded as low as C$3.00. Chesapeake Gold shares last traded at C$3.23, with a volume of 100,852 shares.

Chesapeake Gold Stock Performance

The company has a market cap of C$248.34 million, a price-to-earnings ratio of -53.83 and a beta of 1.82. The business has a 50-day simple moving average of C$4.03 and a 200-day simple moving average of C$3.10.

Insiders Place Their Bets

In related news, insider Alan Nigel Pangbourne sold 28,500 shares of the firm’s stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of C$4.55, for a total value of C$129,675.00. Following the sale, the insider owned 7,216,500 shares of the company’s stock, valued at C$32,835,075. This trade represents a 0.39% decrease in their ownership of the stock. Insiders have sold a total of 154,300 shares of company stock valued at $606,397 over the last 90 days. 32.91% of the stock is owned by company 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.