Sanatana Resources (CVE:STA) Trading 30% Higher - Here's Why

Key Points

• Sanatana Resources Inc. (CVE:STA) shares surged 30% during trading on Friday, reaching a high of C$0.80.
• The stock's trading volume increased significantly, with 187,179 shares changing hands, up 68% from its average.
• Sanatana Resources is engaged in the acquisition and exploration of mineral properties, including an option for an 80% interest in the Oweegee Dome project in British Columbia.

Shares of Sanatana Resources Inc. (CVE:STA - Get Free Report) rose 30% during trading on Friday . The company traded as high as C$0.80 and last traded at C$0.78. Approximately 187,179 shares changed hands during mid-day 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 Trading Down 1.3%

The company has a current ratio of 5.53, a quick ratio of 2.01 and a debt-to-equity ratio of 3.47. The company has a market capitalization of C$78.42 million, a P/E ratio of -77.00 and a beta of 1.32. The business has a 50 day moving average price of C$0.72 and a 200 day moving average price of C$0.35.

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.