Hummingbird Resources (LON:HUM) Shares Cross Below 200-Day Moving Average – Time to Sell?

Hummingbird Resources PLC (LON:HUM)’s share price passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 6.09 ($0.07) and traded as low as GBX 2.55 ($0.03). Hummingbird Resources shares last traded at GBX 2.62 ($0.03), with a volume of 7,083,578 shares.

Wall Street Analyst Weigh In

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

Hummingbird Resources Stock Performance

The business has a fifty day moving average of GBX 2.54 and a 200 day moving average of GBX 6.09. The company has a market cap of £21.23 million, a P/E ratio of -52.40 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.

Hummingbird Resources Company Profile

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.