Rusoro Mining (CVE:RML) Shares Down 15.5% – Here’s Why

Rusoro Mining Ltd. (CVE:RML)’s share price fell 15.5% on Tuesday . The company traded as low as C$0.71 and last traded at C$0.82. 958,486 shares traded hands during mid-day trading, an increase of 429% from the average session volume of 181,044 shares. The stock had previously closed at C$0.97.

Rusoro Mining Trading Down 15.5 %

The firm’s 50 day simple moving average is C$0.81 and its 200-day simple moving average is C$0.89. The stock has a market capitalization of C$359.80 million, a price-to-earnings ratio of -7.75 and a beta of 1.27.

Insider Buying and Selling at Rusoro Mining

In other news, Director Anthony John Beruschi sold 75,000 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of C$0.99, for a total value of C$74,250.00. Corporate insiders own 29.16% of the company’s stock.

Rusoro Mining Company Profile

Rusoro Mining Ltd. engages in the acquisition, exploration, development, and operation of gold mineral properties in Venezuela. It primarily holds 95% interests in the Choco 10 mine; and 50% interest in the Isidora mine located in the El Callao district in south-eastern Venezuela. The company was formerly known as Newton Ventures Inc and changed its name to Rusoro Mining Ltd.