Canadian Spirit Resources (CVE:SPI) Trading 50% Higher – Still a Buy?

Canadian Spirit Resources Inc. (CVE:SPI) shares were up 50% during mid-day trading on Monday . The company traded as high as C$0.02 and last traded at C$0.02. Approximately 485,100 shares traded hands during trading, an increase of 354% from the average daily volume of 106,921 shares. The stock had previously closed at C$0.01.

Canadian Spirit Resources Stock Performance

The company’s 50 day moving average price is C$0.02 and its 200-day moving average price is C$0.02. The stock has a market cap of C$5.76 million, a P/E ratio of -0.33 and a beta of -0.62. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.06 and a current ratio of 1.18.

Canadian Spirit Resources Company Profile

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.