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

Key Points

• Sanatana Resources Inc. saw its stock price increase by 30% during mid-day trading, reaching C$0.80, up from a previous close of C$0.60.
• The company's market capitalization stands at C$79.44 million, with a notable P/E ratio of -78.00 and a beta of 1.32, indicating higher volatility compared to the market.
• Sanatana Resources is involved in the exploration and acquisition of mineral properties, currently focusing on projects that include copper and gold in British Columbia and Ontario.

Sanatana Resources Inc. (CVE:STA - Get Free Report) shares shot up 30% 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 company has a quick ratio of 2.01, a current ratio of 5.53 and a debt-to-equity ratio of 3.47. The firm's 50 day simple moving average is C$0.71 and its 200 day simple moving average is C$0.34. The company has a market capitalization of C$79.44 million, a PE ratio of -78.00 and a beta of 1.32.

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.