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

Key Points

• Sanatana Resources Inc. shares surged 30% to close at C$0.78, significantly increasing from its previous close of C$0.60.
• The company is actively involved in mineral exploration, acquiring a 80% interest in the Oweegee Dome project and a 100% interest in the Empress Property.
• Sanatana Resources has a debt-to-equity ratio of 3.47, indicating a high level of debt compared to its equity.

Sanatana Resources Inc. (CVE:STA - ) shares were up 30% on Saturday . The stock traded as high as C$0.80 and last traded at C$0.78. Approximately 187,179 shares traded hands during 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 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 company's fifty day simple moving average is C$0.71 and its two-hundred day simple moving average is C$0.34. The stock has a market cap of C$79.44 million, a price-to-earnings ratio of -78.00 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.

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