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

by · The Cerbat Gem

Shares of Sarama Resources Ltd (CVE:SWA – Get Free Report) traded down 11.1% on Monday . The stock traded as low as C$0.04 and last traded at C$0.04. 101,000 shares were traded 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 Trading Down 11.1%

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 firm has a 50-day moving average of C$0.04 and a 200 day moving average of 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 Activity

In related news, insider Paul Raymond Paul Schmiede acquired 841,894 shares of Sarama Resources stock in a transaction dated Monday, November 3rd. The stock was bought at an average price of C$0.05 per share, with a total value of C$42,094.70. Following the transaction, the insider directly owned 12,019,324 shares in the company, valued at C$600,966.20. This represents a 7.53% increase in their position. Insiders own 3.76% of the company’s stock.

About Sarama Resources

(Get Free Report)

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.

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