Karnalyte Resources (TSE:KRN) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Karnalyte Resources Inc. (TSE:KRN) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$0.16 and traded as high as C$0.20. Karnalyte Resources shares last traded at C$0.20, with a volume of 37,549 shares.

Karnalyte Resources Trading Up 8.3%

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 firm has a market cap of C$10.39 million, a P/E ratio of -9.75 and a beta of -1.43. The firm has a 50 day simple moving average of C$0.22 and a 200 day simple moving average of C$0.16.

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.