Independence Group NL (ASX:IGO) shares crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $5.74 and traded as low as $6.05. Independence Group shares last traded at $6.18, with a volume of 2,204,460 shares traded.
The firm’s fifty day simple moving average is A$5.74 and its 200 day simple moving average is A$5.03. The company has a market capitalization of $3.65 billion and a price-to-earnings ratio of 48.28. The company has a debt-to-equity ratio of 4.58, a current ratio of 4.44 and a quick ratio of 3.79.
In other Independence Group news, insider Peter Bradford sold 214,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of A$6.44 ($4.57), for a total value of A$1,378,374.00 ($977,570.21).
Independence Group NL operates as a diversified mining and exploration company in Australia. It operates through Nova Project, Tropicana Operation, Long Operation, and New Business and Regional Exploration Activities segments. The company owns 100% interest in the Nova project, which produces nickel, copper, and cobalt concentrates located to the east-northeast of Norseman; and Long nickel project comprising 1,257 square kilometers of tenements located near Kambalda, Western Australia.
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