Serengeti Resources (CVE:SIR) Shares Up 2.1% – Should You Buy?

Serengeti Resources Inc. (CVE:SIR)’s share price traded up 2.1% during trading on Monday . The company traded as high as C$0.50 and last traded at C$0.49. Approximately 70,621 shares changed hands during trading, a decline of 28% from the average daily volume of 97,510 shares. The stock had previously closed at C$0.48.

Serengeti Resources Trading Up 2.1%

The stock has a market capitalization of C$54.39 million and a P/E ratio of -8.60. The company has a current ratio of 1.44, a quick ratio of 1.40 and a debt-to-equity ratio of 0.31. The business has a 50-day moving average price of C$0.49 and a two-hundred day moving average price of C$0.49.

Serengeti Resources Company Profile

Serengeti Resources Inc acquires and explores for mineral properties in Canada. It company explores for gold, copper, and silver deposits. The company's flagship property is the Kwanika project that covers an area of 25,928 hectares located in the northern Quesnel Trough, British Columbia. It also has an option to acquire 100% interest in Top Cat project covering an area of approximately 21,600 hectares situated in central British Columbia. The company was formerly known as Serengeti Minerals Ltd.