Mandalay Resources (TSE:MND) Stock Price Up 10.6% – Still a Buy?

Mandalay Resources Corp. (TSE:MND)’s share price shot up 10.6% during trading on Monday . The stock traded as high as C$5.54 and last traded at C$5.43. 83,852 shares traded hands during 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 Price Performance

The company has a quick ratio of 0.89, a current ratio of 2.00 and a debt-to-equity ratio of 2.46. The stock’s 50 day moving average price is C$4.57 and its two-hundred day moving average price is C$3.89. The firm has a market capitalization of C$357.64 million, a price-to-earnings ratio of 11.89 and a beta of 0.43.

Insiders Place Their Bets

In other Mandalay Resources news, Director Bradford Mills sold 400,000 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The stock was 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 Mandalay Resources 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. 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.