Hummingbird Resources (LON:HUM) Trading 10.9% Higher – Here’s Why

Hummingbird Resources PLC (LON:HUM) was up 10.9% during mid-day trading on Thursday . The stock traded as high as GBX 2.60 ($0.03) and last traded at GBX 2.44 ($0.03). Approximately 4,628,327 shares were traded during mid-day trading, an increase of 95% from the average daily volume of 2,377,425 shares. The stock had previously closed at GBX 2.20 ($0.03).

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group reaffirmed a “speculative buy” rating and set a GBX 17 ($0.21) target price on shares of Hummingbird Resources in a research note on Tuesday, September 17th.

Hummingbird Resources Price Performance

The stock’s 50 day moving average price is GBX 2.85 and its 200-day moving average price is GBX 6.26. The company has a quick ratio of 0.45, a current ratio of 0.21 and a debt-to-equity ratio of 149.07. The stock has a market capitalization of £20.66 million, a PE ratio of -51.00 and a beta of 0.50.

About Hummingbird Resources

Hummingbird Resources plc (AIM: HUM) is a leading multi-asset, multi-jurisdiction gold producing Company, member of the World Gold Council and founding member of Single Mine Origin (www.singlemineorigin.com). The Company currently has two core gold projects, the operational Yanfolila Gold Mine in Mali, and the Kouroussa Gold Mine in Guinea, which will more than double current gold production once at commercial production.

Further, the Company has a controlling interest in the Dugbe Gold Project in Liberia that is being developed by joint venture partners, Pasofino Gold Limited.