Hummingbird Resources (LON:HUM) Shares Up 10.9% – Time to Buy?

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

Wall Street Analysts Forecast Growth

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

Hummingbird Resources Trading Up 10.9 %

The company has a debt-to-equity ratio of 149.07, a current ratio of 0.21 and a quick ratio of 0.45. The firm has a market cap of £19.77 million, a price-to-earnings ratio of -48.80 and a beta of 0.50. The firm’s fifty day moving average is GBX 3.01 and its 200-day moving average is GBX 6.34.

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.