Sable Resources (CVE:SAE) Shares Up 16.7% – Here’s Why

Sable Resources Ltd. (CVE:SAE)’s share price rose 16.7% during mid-day trading on Wednesday . The stock traded as high as C$0.04 and last traded at C$0.04. Approximately 501,000 shares changed hands during trading, an increase of 184% from the average daily volume of 176,642 shares. The stock had previously closed at C$0.03.

Sable Resources Stock Up 16.7 %

The company has a market capitalization of C$10.05 million, a P/E ratio of -0.88 and a beta of 1.08. The stock has a 50 day moving average price of C$0.04 and a 200 day moving average price of C$0.04. The company has a debt-to-equity ratio of 1.33, a quick ratio of 40.33 and a current ratio of 0.69.

Sable Resources Company Profile

Sable Resources Ltd. engages in the acquisition, exploration, and development of mineral resource properties in Mexico and Argentina. The company explores for gold, silver, copper, lead, zinc, and other deposits. It holds 100% interests in the Don Julio project covering an area of 63,314 hectares; the El Fierro project covering an area of 58,510 hectares; the El Fierrazo project, the Los Pumas project, and the Laspina project located in San Juan Province, Argentina; and the Vinata project and the El Escarpe project located in Mexico.