Sanatana Resources (CVE:STA) Shares Up 30% - Here's What Happened

Key Points

• Sanatana Resources Inc. (CVE:STA) experienced a significant jump in share price, rising by 30% during mid-day trading, reaching C$0.80 before settling at C$0.78.
• The stock saw an increase of 68% in trading volume, with 187,179 shares changing hands compared to an average of 111,337 shares.
• Sanatana Resources is engaged in the exploration of mineral properties, with notable projects including an option agreement for an 80% interest in the Oweegee Dome project and a 100% interest in the Empress Property.

Sanatana Resources Inc. (CVE:STA - Get Free Report)'s share price was up 30% during trading on Saturday . The stock traded as high as C$0.80 and last traded at C$0.78. Approximately 187,179 shares were traded during trading, an increase of 68% from the average daily volume of 111,337 shares. The stock had previously closed at C$0.60.

Sanatana Resources Price Performance

The company has a 50-day moving average of C$0.73 and a 200 day moving average of C$0.35. The firm has a market cap of C$76.38 million, a P/E ratio of -75.00 and a beta of 1.32. The company has a debt-to-equity ratio of 3.47, a quick ratio of 2.01 and a current ratio of 5.53.

Sanatana Resources Company Profile

Sanatana Resources Inc, an exploration stage company, engages in the acquisition, exploration, and development of mineral properties. It explores for copper and gold. The company entered in an option agreement to acquire 80% interest in the Oweegee Dome project covering an area of approximately 31,077 hectares located in in Golden Triangle in British Columbia; and 100% interest in the Empress Property, as well as asset purchase agreement to acquire the Santoy Property comprising 32 cell mining claims covering an area of approximately 551 hectares located in in Ontario.