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

Key Points

• Sanatana Resources Inc. shares surged by 30% to C$0.78, with trading volume increasing significantly by 68% from the average.
• The company has a market cap of C$79.44 million and a debt-to-equity ratio of 3.47, indicating a leveraged financial structure.
• Sanatana Resources is in the process of acquiring mineral properties, focusing on copper and gold exploration in British Columbia and Ontario.

Sanatana Resources Inc. (CVE:STA - Get Free Report) rose 30% during trading on Saturday . The stock traded as high as C$0.80 and last traded at C$0.78. Approximately 187,179 shares were traded 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 Stock Down 1.3%

The company's 50 day simple moving average is C$0.73 and its 200-day simple moving average is C$0.35. 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 firm has a market cap of C$78.42 million, a P/E ratio of -77.00 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.