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

Hummingbird Resources PLC (LON:HUM) shares shot 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 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 Analyst Weigh In

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

Hummingbird Resources Trading Up 4.5 %

The firm has a market capitalization of £20.66 million, a PE ratio of -51.00 and a beta of 0.50. 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 stock’s fifty day simple moving average is GBX 2.85 and its 200 day simple moving average is 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.