Landore Resources (LON:LND) Trading Up 15.2% Following Insider Buying Activity

Landore Resources Limited (LON:LND) shares shot up 15.2% during mid-day trading on Tuesday after an insider bought additional shares in the company. The stock traded as high as GBX 3.80 ($0.05) and last traded at GBX 3.80 ($0.05). 671,884 shares were traded during mid-day trading, a decline of 40% from the average session volume of 1,116,109 shares. The stock had previously closed at GBX 3.30 ($0.04).

Specifically, insider Glenn Featherby purchased 2,500,000 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was bought at an average price of GBX 2 ($0.03) per share, for a total transaction of £50,000 ($64,045.09). Company insiders own 19.21% of the company’s stock.

Landore Resources Stock Performance

The company’s 50 day moving average price is GBX 3.26 and its 200-day moving average price is GBX 2.67. The company has a market cap of £5.73 million, a PE ratio of -195.00 and a beta of -0.12.

Landore Resources Company Profile

Landore Resources Limited, through its subsidiary, Landore Resources Canada Inc, acquires, explores, and develops precious and base metal projects in Eastern Canada. It explores for nickel, copper, iron, cobalt, platinum, palladium, gold, and lithium deposits. The company holds 100% interest in Junior Lake property, which include 6 leases and 1,318 staked mining claims that cover an area of approximately 33,029 hectares located in the province of Ontario, Canada; and Miminiska Lake property comprises 28 patented and 23 staked claims in southern block, and 570 staked claims in the northern block covering an area of approximately 5,494 hectares located in Northern Ontario, Canada.