Mandalay Resources (TSE:MND) Trading 10.6% Higher – Time to Buy?

Mandalay Resources Corp. (TSE:MND)’s share price shot up 10.6% on Monday . The stock traded as high as C$5.54 and last traded at C$5.43. 83,852 shares were traded during mid-day trading, an increase of 5% from the average session volume of 80,156 shares. The stock had previously closed at C$4.91.

Mandalay Resources Stock Performance

The company has a quick ratio of 0.89, a current ratio of 2.00 and a debt-to-equity ratio of 2.46. The firm has a market capitalization of C$363.60 million, a PE ratio of 12.09 and a beta of 0.43. The firm’s 50-day moving average price is C$4.63 and its two-hundred day moving average price is C$3.93.

Insider Buying and Selling

In related news, Director Bradford Mills sold 400,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of C$4.30, for a total transaction of C$1,720,000.00. Also, Senior Officer Frazer William Bourchier sold 27,692 shares of Mandalay Resources stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of C$4.70, for a total transaction of C$130,152.40. 1.68% of the stock is currently owned by corporate insiders.

Mandalay Resources Company Profile

Mandalay Resources Corporation, a natural resource company, engages in the acquisition, exploration, extraction, processing, and reclamation of various mineral properties. It explores for gold, silver, and antimony deposits. The company holds a 100% interest in the Costerfield gold-antimony mine covering an area of 7,540.78 hectares (ha) located in Central Victoria, Australia; and the Bjorkdal gold mine that comprises 9 mining concessions and 19 exploration permits located in Vasterbotten County in northern Sweden.