Karnalyte Resources (TSE:KRN) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Karnalyte Resources Inc. (TSE:KRN) shares passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$0.15 and traded as high as C$0.19. Karnalyte Resources shares last traded at C$0.19, with a volume of 3,000 shares changing hands.

Karnalyte Resources Price Performance

The stock’s 50 day moving average is C$0.22 and its two-hundred day moving average is C$0.15. The stock has a market capitalization of C$10.12 million, a PE ratio of -9.50 and a beta of -0.71. The company has a debt-to-equity ratio of 0.18, a quick ratio of 6.40 and a current ratio of 2.86.

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.