Karnalyte Resources (TSE:KRN) Share Price Passes Above 200-Day Moving Average – What’s Next?

Karnalyte Resources Inc. (TSE:KRN) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$0.18 and traded as high as C$0.37. Karnalyte Resources shares last traded at C$0.33, with a volume of 30,224 shares changing hands.

Karnalyte Resources Stock Down 15.4%

The company has a quick ratio of 6.40, a current ratio of 2.86 and a debt-to-equity ratio of 0.18. The stock has a market cap of C$17.58 million, a price-to-earnings ratio of -16.50 and a beta of -0.83. The business’s fifty day moving average is C$0.23 and its two-hundred day moving average is C$0.18.

About Karnalyte Resources

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.