Karnalyte Resources (TSE:KRN) Shares Pass Above 200 Day Moving Average – Time to Sell?

Karnalyte Resources Inc. (TSE:KRN)’s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$0.30 and traded as high as C$0.32. Karnalyte Resources shares last traded at C$0.29, with a volume of 4,702 shares trading hands.

Karnalyte Resources Trading Up 3.4%

The stock has a market cap of C$15.99 million, a price-to-earnings ratio of -15.00 and a beta of -1.65. The business has a 50-day simple moving average of C$0.29 and a two-hundred day simple moving average of C$0.30. The company has a debt-to-equity ratio of 0.18, a quick ratio of 6.40 and a current ratio of 2.86.

Karnalyte Resources (TSE:KRN) last issued its earnings results on Friday, August 14th. The company reported C$0.01 earnings per share (EPS) for the quarter.

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. It is also exploring the development of the Proteos Nitrogen Project, which is a proposed small-scale nitrogen fertilizer plant with a nameplate production capacity of approximately 700 metric tonnes per day of ammonia and approximately 1,200 MTPD of urea, and a target customer market of independent fertilizer wholesalers in Central Saskatchewan.