Sarama Resources (CVE:SWA) Trading Down 11.1% – What’s Next?

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

Sarama Resources Stock Down 11.1%

The stock has a market capitalization of C$18.52 million, a price-to-earnings ratio of -2.22 and a beta of 2.40. The company has a quick ratio of 3.66, a current ratio of 0.51 and a debt-to-equity ratio of 21.52. The stock has a 50 day moving average price of C$0.04 and a 200 day moving average price of C$0.04.

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 on Monday, November 3rd. The shares were purchased at an average cost of C$0.05 per share, with a total value of C$42,094.70. Following the acquisition, the insider directly owned 12,019,324 shares of the company’s stock, valued at C$600,966.20. The trade was a 7.53% increase in their position. 3.76% of the stock is currently owned by corporate insiders.

Sarama Resources Company Profile

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.