Karnalyte Resources (TSE:KRN) Shares Up 8.8% – Still a Buy?

Karnalyte Resources Inc. (TSE:KRN)’s share price traded up 8.8% on Wednesday . The stock traded as high as C$0.20 and last traded at C$0.19. 102,982 shares traded hands during mid-day trading, an increase of 269% from the average session volume of 27,878 shares. The stock had previously closed at C$0.17.

Karnalyte Resources Stock Up 8.8 %

The company has a debt-to-equity ratio of 0.18, a current ratio of 2.86 and a quick ratio of 6.40. The business has a 50 day simple moving average of C$0.12 and a 200 day simple moving average of C$0.12. The company has a market capitalization of C$9.86 million, a price-to-earnings ratio of -6.17 and a beta of 1.58.

About Karnalyte Resources

Karnalyte Resources Inc is a development stage company focused on two fertilizer products, potash and nitrogen, to be produced and manufactured in Saskatchewan. It owns the construction ready Wynyard Potash Project, with planned phase 1 production of high grade granular potash, and two subsequent phases.