First Mining Gold (TSE:FF) Trading Up 3.2% – Here’s Why

First Mining Gold Corp. (TSE:FF) traded up 3.2% during mid-day trading on Tuesday . The company traded as high as C$0.17 and last traded at C$0.16. 297,567 shares changed hands during trading, a decline of 70% from the average session volume of 987,982 shares. The stock had previously closed at C$0.16.

Analyst Upgrades and Downgrades

Separately, Haywood Securities raised First Mining Gold to a “strong-buy” rating in a report on Friday, March 21st.

First Mining Gold Trading Up 3.2%

The company has a fifty day simple moving average of C$0.14 and a 200-day simple moving average of C$0.13. The company has a current ratio of 1.30, a quick ratio of 1.01 and a debt-to-equity ratio of 0.12. The stock has a market cap of C$169.52 million, a price-to-earnings ratio of -3.57 and a beta of 0.99.

Insiders Place Their Bets

In other news, Director Keith Neumeyer acquired 250,000 shares of First Mining Gold stock in a transaction that occurred on Monday, May 5th. The stock was purchased at an average price of C$0.16 per share, with a total value of C$40,000.00. In the last three months, insiders have bought 565,000 shares of company stock worth $81,650. Corporate insiders own 4.18% of the company’s stock.

About First Mining Gold

First Mining is a Canadian gold developer focused on the development and permitting of the Springpole Gold Project in northwestern Ontario. Springpole is one of the largest undeveloped gold projects in Canada. The results of a positive Pre-Feasibility Study for the Springpole Gold Project were announced by First Mining in January 2021, and permitting activities are on-going with submission of an Environmental Impact Statement for the project targeted for 2021.