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

Key Points

• Sanatana Resources' stock surged 30% during mid-day trading, reaching a high of C$0.80, increasing from its previous close of C$0.60.
• The company has a market cap of C$79.44 million and a high P/E ratio of -78.00, indicating it is in an exploration stage.
• Sanatana Resources is active in mineral exploration, recently entering agreements to acquire interests in the Oweegee Dome and Empress properties in Canada.

Sanatana Resources Inc. (CVE:STA - Get Free Report)'s stock price traded up 30% 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 Stock 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 company's 50-day moving average is C$0.72 and its two-hundred day moving average is C$0.35. The company has a market capitalization of C$76.38 million, a P/E ratio of -75.00 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.