Visible Gold Mines (CVE:VGD) Shares Down 15.6% – Here’s Why

Visible Gold Mines Inc. (CVE:VGD) shares traded down 15.6% on Friday . The stock traded as low as C$0.13 and last traded at C$0.14. Approximately 125,000 shares traded hands during mid-day trading, an increase of 154% from the average session volume of 49,255 shares. The stock had previously closed at C$0.16.

Visible Gold Mines Stock Performance

The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.56 and a current ratio of 10.43. The firm has a market capitalization of C$5.02 million, a price-to-earnings ratio of 1.69 and a beta of 0.63. The company has a fifty day moving average of C$0.15 and a two-hundred day moving average of C$0.17.

Insider Buying and Selling

In other news, Director Jean-Marc Lacoste acquired 300,000 shares of the stock in a transaction on Thursday, July 9th. The stock was acquired at an average cost of C$0.12 per share, for a total transaction of C$36,000.00. Following the completion of the transaction, the director directly owned 700,000 shares in the company, valued at approximately C$84,000. This trade represents a 75.00% increase in their ownership of the stock. Over the last 90 days, insiders have bought 515,000 shares of company stock valued at $62,550. 15.92% of the stock is owned by company insiders.

Visible Gold Mines Company Profile

Visible Gold Mines Inc acquires and explores mineral properties in Canada. It primarily explores for gold and lithium deposits. The company was incorporated in 2007 and is based in Rouyn-Noranda, Canada.