Karnalyte Resources (TSE:KRN) Hits New 12-Month High – Should You Buy?

Karnalyte Resources Inc. (TSE:KRN)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as C$0.40 and last traded at C$0.39, with a volume of 213130 shares. The stock had previously closed at C$0.32.

Karnalyte Resources Trading Up 21.9%

The business’s 50-day moving average is C$0.21 and its two-hundred day moving average is C$0.17. The company has a debt-to-equity ratio of 0.18, a quick ratio of 6.40 and a current ratio of 2.86. The stock has a market capitalization of C$20.78 million, a PE ratio of -19.50 and a beta of -0.83.

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.