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

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 - )'s share price shot up 30% during mid-day trading on Saturday . The stock traded as high as C$0.80 and last traded at C$0.78. 187,179 shares changed hands during mid-day trading, an increase of 68% from the average session volume of 111,337 shares. The stock had previously closed at C$0.60.

Sanatana Resources Price Performance

The stock has a market capitalization of C$79.44 million, a PE ratio of -78.00 and a beta of 1.32. The company has a quick ratio of 2.01, a current ratio of 5.53 and a debt-to-equity ratio of 3.47. The stock's 50-day moving average is C$0.71 and its 200 day moving average is C$0.34.

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.

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