Canagold Resources (TSE:CCM) Share Price Crosses Above 50-Day Moving Average – Here’s Why

Canagold Resources Ltd. (TSE:CCM) shares crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of C$0.29 and traded as high as C$0.31. Canagold Resources shares last traded at C$0.31, with a volume of 48,200 shares changing hands.

Canagold Resources Stock Performance

The firm has a market cap of C$53.22 million, a PE ratio of -15.25 and a beta of 0.84. The company has a quick ratio of 0.61, a current ratio of 3.71 and a debt-to-equity ratio of 0.58. The company has a 50-day simple moving average of C$0.29 and a two-hundred day simple moving average of C$0.29.

Canagold Resources Company Profile

Canagold Resources Ltd. engages in the evaluation, acquisition, exploration, and development of precious metal properties in the United States and Canada. It explores for gold, silver, and copper deposits. The company holds 100% interest in the New Polaris project that consist of 61 crown granted mineral claims and 1 modified grid claim covering an area of approximately 2,956 acres located at Tulsequah River Valley; and the Windfall Hills project consists of the Atna properties, comprising 2 mineral claims covering 959 hectares and the Dunn properties, comprising 8 mineral claims covering 2820 hectares, located near south of Burns Lake.