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

Hummingbird Resources PLC (LON:HUM)’s stock price shot up 10.9% during mid-day trading on Thursday . The company 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 4.5 %

The business has a 50 day simple moving average of GBX 2.85 and a two-hundred day simple moving average of GBX 6.26. The company has a current ratio of 0.21, a quick ratio of 0.45 and a debt-to-equity ratio of 149.07. The company has a market cap 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.