Mandalay Resources (TSE:MND) Stock Price Up 10.6% – Here’s Why

Mandalay Resources Corp. (TSE:MND)’s share price traded up 10.6% during mid-day trading on Monday . The company traded as high as C$5.54 and last traded at C$5.43. 83,852 shares changed hands 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 Up 10.0 %

The company has a debt-to-equity ratio of 2.46, a current ratio of 2.00 and a quick ratio of 0.89. The firm’s 50-day moving average price is C$4.57 and its 200 day moving average price is C$3.89. The firm has a market cap of C$357.64 million, a P/E ratio of 11.89 and a beta of 0.43.

Insider Buying and Selling

In other news, Director Bradford Mills sold 400,000 shares of the firm’s stock in a transaction dated 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 the 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. Company insiders own 1.68% of the company’s stock.

About Mandalay Resources

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.