Sanatana Resources (CVE:STA) Shares Up 30% - Should You Buy?

Key Points

• Sanatana Resources Inc. shares surged by 30% during trading, reaching a high of C$0.80 before closing at C$0.78, significantly up from the previous close of C$0.60.
• The company's market cap stands at C$79.44 million, with a high debt-to-equity ratio of 3.47, indicating potential financial risk.
• Sanatana Resources is focused on the acquisition and exploration of mineral properties, including projects in British Columbia and Ontario targeting copper and gold.

Sanatana Resources Inc. (CVE:STA - Get Free Report)'s stock price rose 30% during mid-day trading on Saturday . The company 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 Price Performance

The company has a market capitalization of C$76.38 million, a price-to-earnings ratio of -75.00 and a beta of 1.32. The stock has a fifty day simple moving average of C$0.73 and a 200-day simple moving average of C$0.35. The company has a debt-to-equity ratio of 3.47, a current ratio of 5.53 and a quick ratio of 2.01.

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.