Sarama Resources (CVE:SWA) Shares Up 10% – Should You Buy?

Sarama Resources Ltd (CVE:SWA) shares were up 10% during trading on Thursday . The stock traded as high as C$0.06 and last traded at C$0.06. Approximately 397,500 shares traded hands during trading, an increase of 169% from the average daily volume of 147,685 shares. The stock had previously closed at C$0.05.

Sarama Resources Stock Down 16.7%

The firm’s 50-day moving average is C$0.04 and its two-hundred day moving average is C$0.04. The company has a debt-to-equity ratio of 21.52, a quick ratio of 3.66 and a current ratio of 0.51. The stock has a market cap of C$23.15 million, a P/E ratio of -2.78 and a beta of 2.74.

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.