Cardinal Resources (ASX:CDV) Shares Up 3.4%

Cardinal Resources Ltd (ASX:CDV) shares shot up 3.4% during trading on Thursday . The company traded as high as A$0.30 ($0.21) and last traded at A$0.30 ($0.21), 353,999 shares changed hands during trading. A decline of 26% from the average session volume of 480,978 shares. The stock had previously closed at A$0.29 ($0.21).

The company has a current ratio of 9.45, a quick ratio of 7.84 and a debt-to-equity ratio of 1,354.15. The business has a fifty day simple moving average of A$0.33 and a 200 day simple moving average of A$0.37. The stock has a market capitalization of $121.07 million and a P/E ratio of -3.64.

In related news, insider Arthur (Archie) Koimtsidis acquired 4,191,731 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was purchased at an average cost of A$0.15 ($0.11) per share, with a total value of A$628,759.65 ($445,928.83).

About Cardinal Resources (ASX:CDV)

Cardinal Resources Limited, together with its subsidiaries, engages in the exploration and development of mineral properties in Ghana. It primarily explores for gold deposits. The company's principal project is Namdini Gold project located in the Bolgatanga region. Cardinal Resources Limited is based in West Perth, Australia.

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