Riverside Resources (CVE:RRI) Stock Jumps 4.2% – Here’s Why

Riverside Resources Inc. (CVE:RRI) was up 4.2% during mid-day trading on Wednesday. The company traded as high as C$0.38 and last traded at C$0.38. 500 shares changed hands during trading, a decline of 99% from the average session volume of 77,664 shares. The stock had previously closed at C$0.36.

Riverside Resources Trading Up 4.2%

The stock’s 50 day moving average price is C$0.40 and its 200 day moving average price is C$0.30. The company has a market capitalization of C$35.15 million, a price-to-earnings ratio of 18.75 and a beta of 0.67.

Insiders Place Their Bets

In other news, insider Jeffrey Dare sold 110,000 shares of the stock in a transaction dated Thursday, October 8th. The shares were sold at an average price of C$0.39, for a total value of C$42,900.00. Following the transaction, the insider directly owned 25,500 shares of the company’s stock, valued at C$9,945. This represents a 81.18% decrease in their ownership of the stock. 5.12% of the stock is currently owned by company insiders.

About Riverside Resources

Riverside Resources Inc engages in the acquisition, exploration, and evaluation of assets in Canada, the United States, and Mexico. It primarily explores for gold, silver, rare earth elements (REE), and copper deposits. The company holds 100% interests in the Oakes Gold project covering an area of approximately 5,600 hectares; the Pichette comprises 1,650 hectares; and the Longrose and Vincent projects in located northwestern Ontario, Canada, as well as Duc project covering an area of approximately 600 hectares located in Ontario, Canada; and the Revel project includes 1,100 hectares located in the north of Revelstoke, British Columbia.