Karnalyte Resources (TSE:KRN) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Karnalyte Resources Inc. (TSE:KRN) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$0.28 and traded as high as C$0.32. Karnalyte Resources shares last traded at C$0.30, with a volume of 16,686 shares changing hands.

Karnalyte Resources Price Performance

The firm has a market cap of C$15.99 million, a P/E ratio of -15.00 and a beta of -1.74. 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 business’s 50 day moving average is C$0.33 and its two-hundred day moving average is C$0.28.

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.