Canadian Spirit Resources (CVE:SPI) Shares Up 50% – Still a Buy?

Canadian Spirit Resources Inc. (CVE:SPI) rose 50% during mid-day trading on Monday . The stock traded as high as C$0.02 and last traded at C$0.02. Approximately 200,100 shares were traded during mid-day trading, an increase of 91% from the average daily volume of 104,585 shares. The stock had previously closed at C$0.01.

Canadian Spirit Resources Stock Performance

The stock has a market cap of C$4.32 million, a price-to-earnings ratio of -0.25 and a beta of -0.62. The firm’s 50-day moving average is C$0.02 and its two-hundred day moving average is C$0.02. The company has a current ratio of 1.18, a quick ratio of 2.06 and a debt-to-equity ratio of 0.07.

About Canadian Spirit Resources

Canadian Spirit Resources Inc, a natural resources company, focuses on the identification and development of opportunities in the unconventional natural gas sector in Canada. It primarily develops the Montney Formation natural gas and natural gas liquids resource play in the Farrell Creek Montney area of northeastern British Columbia. The company was formerly known as Spirit Energy Corp. and changed its name to Canadian Spirit Resources Inc in June 2004. Canadian Spirit Resources Inc was incorporated in 1987 and is headquartered in Calgary, Canada.