Karnalyte Resources (TSE:KRN) Stock Price Down 23.2% – Time to Sell?
by Michael Walen · The Markets DailyKarnalyte Resources Inc. (TSE:KRN – Get Free Report)’s stock price dropped 23.2% during mid-day trading on Friday . The stock traded as low as C$0.38 and last traded at C$0.38. Approximately 160,345 shares traded hands during mid-day trading, an increase of 223% from the average daily volume of 49,671 shares. The stock had previously closed at C$0.50.
Karnalyte Resources Stock Performance
The stock has a market cap of C$20.25 million, a P/E ratio of -19.00 and a beta of -0.83. The company has a fifty day moving average price of C$0.22 and a 200 day moving average price of C$0.17. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.86 and a quick ratio of 6.40.
Karnalyte Resources Company Profile
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.