Rugby Resources (CVE:RUG) Trading 50% Higher – Here’s Why

Shares of Rugby Resources Ltd. (CVE:RUG) shot up 50% during trading on Wednesday . The company traded as high as C$0.04 and last traded at C$0.03. 1,727,866 shares changed hands during mid-day trading, an increase of 658% from the average session volume of 227,906 shares. The stock had previously closed at C$0.02.

Rugby Resources Price Performance

The firm has a market capitalization of C$9.50 million, a P/E ratio of -3.15 and a beta of 1.89. The business’s 50-day moving average is C$0.02 and its 200 day moving average is C$0.04.

About Rugby Resources

Rugby Resources Ltd., an exploration stage company, engages in the acquisition, exploration, and development of mineral properties in Colombia, Argentina, Chile, Australia, and the Philippines. It primarily explores for gold, silver, and copper deposits. The company holds an interest in the Motherlode gold-copper project that covers an area of 878 hectares located to the south of Surigao City in Surigao del Norte province, the Philippines; 100% interest the Colombia gold project; 100% interest in the Cobrasco copper project that covers approximately 3,000 hectares located in the Choco Region of Colombia; and Georgetown project comprising various exploration permits totaling 849 square kilometers located in North Queensland, Australia.