Pure Gold Mining (CVE:PGM) Reaches New 52-Week Low at $0.85

Pure Gold Mining Inc. (CVE:PGM)’s stock price hit a new 52-week low on Friday . The company traded as low as C$0.85 and last traded at C$0.87, with a volume of 325645 shares traded. The stock had previously closed at C$0.89.

PGM has been the subject of a number of research analyst reports. Haywood Securities reduced their price target on shares of Pure Gold Mining from C$2.00 to C$1.30 in a research note on Friday, July 16th. Laurentian set a C$2.50 target price on shares of Pure Gold Mining and gave the stock a “buy” rating in a report on Friday, June 4th. Pi Financial dropped their target price on shares of Pure Gold Mining from C$2.60 to C$2.50 in a report on Thursday, June 3rd. Finally, Canaccord Genuity dropped their target price on shares of Pure Gold Mining from C$2.25 to C$2.00 in a report on Wednesday, July 14th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of C$2.16.

The stock’s fifty day moving average price is C$1.13 and its 200-day moving average price is C$1.38. The company has a debt-to-equity ratio of 168.08, a current ratio of 1.07 and a quick ratio of 0.84. The firm has a market cap of C$364.03 million and a price-to-earnings ratio of -11.73.

Pure Gold Mining (CVE:PGM) last released its quarterly earnings results on Friday, August 13th. The company reported C($0.01) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of C($0.01). As a group, equities research analysts predict that Pure Gold Mining Inc. will post 0.15 EPS for the current fiscal year.

Pure Gold Mining Company Profile (CVE:PGM)

Pure Gold Mining Inc engages in the acquisition, exploration, and development of gold, and other precious and base metal properties in Canada. Its principal property is the Pure Gold Red Lake Gold project comprises 251 mining leases, mining patents, and unpatented mining claims covering an area of approximately 4,700 hectares located near Red Lake, Ontario.

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