Nighthawk Gold (TSE:NHK) Trading 9.5% Higher on Insider Buying Activity

Shares of Nighthawk Gold Corp (TSE:NHK) were up 9.5% during mid-day trading on Wednesday after an insider bought additional shares in the company. The company traded as high as C$0.69 and last traded at C$0.69, approximately 153,651 shares traded hands during trading. A decline of 44% from the average daily volume of 275,792 shares. The stock had previously closed at C$0.63.

Specifically, insider Robert Douglas Cudney bought 90,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were bought at an average cost of C$0.57 per share, for a total transaction of C$51,300.00. Following the completion of the transaction, the insider now owns 42,458,489 shares of the company’s stock, valued at C$24,201,338.73. Insiders purchased 479,500 shares of company stock worth $232,307 over the last quarter.

Separately, Pi Financial boosted their target price on Nighthawk Gold from C$0.90 to C$1.00 in a research report on Wednesday, July 24th.

The firm has a fifty day moving average of C$0.55. The firm has a market cap of $122.10 million and a PE ratio of -57.50.

Nighthawk Gold Company Profile (TSE:NHK)

Nighthawk Gold Corp. identifies, acquires, explores, and evaluates gold properties in Canada. It owns a 100% interest in the Indin Lake Gold property covering an area of 222,203 acres located to the north of Yellowknife, the Northwest Territories, as well as Colomac Gold Project. The company was formerly known as Merc International Minerals Inc and changed its name to Nighthawk Gold Corp.

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