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

Key Points

• Sanatana Resources Inc. shares surged 30% during mid-day trading, reaching a high of C$0.80 before closing at C$0.78.
• The company has a market cap of C$79.44 million and a significant debt-to-equity ratio of 3.47.
• Sanatana is focused on the acquisition and exploration of mineral properties, with recent agreements for projects in British Columbia and Ontario.

Shares of Sanatana Resources Inc. (CVE:STA - Get Free Report) traded 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 debt-to-equity ratio of 3.47, a current ratio of 5.53 and a quick ratio of 2.01. The firm has a fifty day moving average of C$0.73 and a two-hundred day moving average of C$0.35. The stock has a market capitalization of C$76.38 million, a P/E ratio of -75.00 and a beta of 1.32.

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.