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

Hummingbird Resources PLC (LON:HUM) traded 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). 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).

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group restated a “speculative buy” rating and issued 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 business has a fifty day moving average of GBX 3.01 and a 200-day moving average of GBX 6.34. 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 firm has a market cap of £19.77 million, a PE ratio of -48.80 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.