Golconda Gold (CVE:GG) Shares Up 9.5% – Should You Buy?

Golconda Gold Ltd. (CVE:GG)’s stock price rose 9.5% during trading on Wednesday . The company traded as high as C$0.35 and last traded at C$0.35. Approximately 12,950 shares traded hands during trading, a decline of 69% from the average daily volume of 41,649 shares. The stock had previously closed at C$0.32.

Golconda Gold Price Performance

The firm has a 50-day moving average of C$0.28 and a 200-day moving average of C$0.27. The company has a debt-to-equity ratio of 16.35, a quick ratio of 0.20 and a current ratio of 0.33. The firm has a market capitalization of C$22.45 million, a P/E ratio of -8.00 and a beta of 2.80.

Golconda Gold (CVE:GG) last announced its quarterly earnings results on Monday, August 26th. The company reported C($0.01) EPS for the quarter. The company had revenue of C$4.08 million during the quarter. Golconda Gold had a negative return on equity of 7.90% and a negative net margin of 24.15%. As a group, analysts predict that Golconda Gold Ltd. will post 0.05 EPS for the current year.

Insider Buying and Selling at Golconda Gold

In related news, Director Ravi Sood purchased 500,000 shares of the business’s stock in a transaction on Friday, August 30th. The stock was acquired at an average price of C$0.21 per share, with a total value of C$105,000.00. 17.59% of the stock is owned by corporate insiders.

About Golconda Gold

Golconda Gold Ltd. engages in the exploration, development, and operation of gold mining properties in Canada, the United States, and South Africa. It operates the Galaxy Property situated in the Republic of South Africa. The company was formerly known as Galane Gold Ltd. and changed its name to Golconda Gold Ltd.