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

Sarama Resources Ltd (CVE:SWA)’s share price was down 11.1% during trading on Monday . The stock traded as low as C$0.04 and last traded at C$0.04. Approximately 101,000 shares traded hands during mid-day trading, a decline of 33% from the average daily volume of 151,082 shares. The stock had previously closed at C$0.05.

Sarama Resources Stock Performance

The company has a current ratio of 0.51, a quick ratio of 3.66 and a debt-to-equity ratio of 21.52. The company’s 50-day moving average price is C$0.04 and its two-hundred day moving average price is C$0.04. The company has a market cap of C$18.52 million, a P/E ratio of -2.22 and a beta of 2.40.

Insider Buying and Selling

In other Sarama Resources news, insider Paul Raymond Paul Schmiede bought 841,894 shares of Sarama Resources stock in a transaction that occurred on 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 acquisition, the insider owned 12,019,324 shares of the company’s stock, valued at approximately C$600,966.20. This represents a 7.53% increase in their position. 3.76% of the stock is currently owned by corporate insiders.

About Sarama Resources

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.