Hummingbird Resources (LON:HUM) Shares Up 10.9% – Should You Buy?

Hummingbird Resources PLC (LON:HUM) was up 10.9% on Thursday . The company traded as high as GBX 2.60 ($0.03) and last traded at GBX 2.44 ($0.03). Approximately 4,628,327 shares traded hands during mid-day trading, an increase of 95% from the average daily volume of 2,377,425 shares. The stock had previously closed at GBX 2.20 ($0.03).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reaffirmed a “speculative buy” rating and issued a GBX 17 ($0.21) price objective on shares of Hummingbird Resources in a research note on Tuesday, September 17th.

Hummingbird Resources Trading Up 4.5 %

The company has a quick ratio of 0.45, a current ratio of 0.21 and a debt-to-equity ratio of 149.07. The firm has a market cap of £20.66 million, a price-to-earnings ratio of -51.00 and a beta of 0.50. The company has a 50-day moving average price of GBX 2.85 and a 200 day moving average price of GBX 6.26.

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.