Sun Summit Minerals (CVE:SMN) Trading 15.4% Higher – Here’s Why

Sun Summit Minerals Corp. (CVE:SMN) was up 15.4% during mid-day trading on Tuesday . The stock traded as high as C$0.15 and last traded at C$0.15. Approximately 9,394,443 shares changed hands during mid-day trading, an increase of 809% from the average daily volume of 1,033,716 shares. The stock had previously closed at C$0.13.

Sun Summit Minerals Trading Up 11.5%

The stock has a 50-day simple moving average of C$0.14 and a 200 day simple moving average of C$0.14. The company has a market cap of C$45.33 million, a price-to-earnings ratio of -2.42 and a beta of 0.84.

Insider Activity

In related news, Director Brian Lock sold 460,000 shares of Sun Summit Minerals stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of C$0.14, for a total transaction of C$64,400.00. Following the completion of the sale, the director owned 1,409,300 shares of the company’s stock, valued at C$197,302. The trade was a 24.61% decrease in their ownership of the stock. 8.82% of the stock is currently owned by insiders.

About Sun Summit Minerals

Sun Summit Minerals Corp. engages in the acquisition and exploration of precious metal properties in Canada. The company primarily explores for gold, silver, zinc, and copper deposits. It has an option to acquire a 100% interest in the Buck property covering an area of totaling approximately 52,000 hectares located in north-central British Columbia; and holds 100% interest in the JD project covering an area of totaling approximately 16,000 hectares located in the Toodoggone region, British Columbia.