Sanatana Resources (CVE:STA) Shares Up 30% - Time to Buy?

Key Points

• Sanatana Resources Inc. shares surged by 30% during trading, reaching a high of C$0.80, while the last traded price was C$0.78.
• The company has a debt-to-equity ratio of 3.47 and a market capitalization of C$79.44 million, indicating a volatile financial position.
• Sanatana is in the mineral exploration sector, recently acquiring significant interests in various projects, including the Oweegee Dome and Empress Properties.

Sanatana Resources Inc. (CVE:STA - ) shares shot up 30% during trading on Friday . The company traded as high as C$0.80 and last traded at C$0.78. 187,179 shares traded 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 company has a debt-to-equity ratio of 3.47, a quick ratio of 2.01 and a current ratio of 5.53. The firm has a market capitalization of C$79.44 million, a P/E ratio of -78.00 and a beta of 1.32. The company has a 50-day moving average price of C$0.71 and a 200-day moving average price of C$0.34.

About Sanatana Resources

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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