Sarama Resources (CVE:SWA) Trading Down 11.1% – Here’s Why

Sarama Resources Ltd (CVE:SWA) shares traded down 11.1% during trading on Monday . The stock traded as low as C$0.04 and last traded at C$0.04. 101,000 shares changed hands during trading, a decline of 33% from the average session volume of 151,082 shares. The stock had previously closed at C$0.05.

Sarama Resources Stock Performance

The company has a quick ratio of 3.66, a current ratio of 0.51 and a debt-to-equity ratio of 21.52. The stock has a market capitalization of C$18.52 million, a P/E ratio of -2.22 and a beta of 2.40. The business has a fifty day moving average price of C$0.04 and a 200-day moving average price of C$0.04.

Insider Activity

In related news, insider Paul Raymond Paul Schmiede purchased 841,894 shares of Sarama Resources stock in a transaction dated Monday, November 3rd. The stock was purchased at an average cost of C$0.05 per share, for a total transaction of C$42,094.70. Following the completion of the purchase, the insider directly owned 12,019,324 shares of the company’s stock, valued at C$600,966.20. The trade was a 7.53% increase in their position. 3.76% of the stock is currently owned by insiders.

Sarama Resources Company Profile

Sarama Resources Ltd, an exploration stage company, engages in the sourcing, exploration, and development of gold deposits in West Africa. It explores for gold. The company holds 100% interest in the Sanutura Project covering an area of approximately 1,420 square kilometers; and 18% interest in the Karankasso Project covering an area of approximately 750 square kilometers located in Burkina Faso. It also holds 100% interest in the Koumandara Project comprises four exploration properties covering an area of approximately 467 square kilometers located within the northern Banfora Greenstone Belt, south-west Burkina Faso.