GoGold Resources (TSE:GGD) Trading Up 11.9% – Time to Buy?

GoGold Resources Inc. (TSE:GGD) shares rose 11.9% during trading on Monday . The company traded as high as C$3.73 and last traded at C$3.39. Approximately 2,904,131 shares were traded during mid-day trading, an increase of 43% from the average daily volume of 2,028,118 shares. The stock had previously closed at C$3.03.

Wall Street Analyst Weigh In

GGD has been the topic of a number of research analyst reports. Desjardins set a C$5.50 target price on GoGold Resources and gave the company a “buy” rating in a research note on Friday, April 24th. Stifel Nicolaus set a C$5.25 target price on GoGold Resources and gave the company a “buy” rating in a research note on Monday, March 2nd. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of C$5.38.

GoGold Resources Trading Up 8.6%

The firm’s 50-day simple moving average is C$2.96 and its 200-day simple moving average is C$3.01. The company has a quick ratio of 8.30, a current ratio of 9.29 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of C$1.43 billion, a PE ratio of 30.18 and a beta of 1.86.

GoGold Resources (TSE:GGD) last posted its quarterly earnings results on Wednesday, May 6th. The company reported C$0.05 earnings per share (EPS) for the quarter. GoGold Resources had a net margin of 52.19% and a return on equity of 12.12%. The business had revenue of C$42.17 million during the quarter. Equities analysts expect that GoGold Resources Inc. will post 0.0349744 earnings per share for the current year.

GoGold Resources Company Profile

GoGold Resources (TSX: GGD) is a Canadian-based silver and gold producer focused on operating, developing, exploring and acquiring high quality projects in Mexico. The Company operates the Parral Tailings mine in the state of Chihuahua and has the Los Ricos South and Los Ricos North exploration and development projects in the state of Jalisco. Headquartered in Halifax, NS, GoGold is building a portfolio of low cost, high margin projects.