Sun Summit Minerals (CVE:SMN) Shares Up 11.5% – Here’s What Happened

Sun Summit Minerals Corp. (CVE:SMN) rose 11.5% on Friday . The stock traded as high as C$0.16 and last traded at C$0.15. Approximately 2,802,383 shares changed hands during trading, an increase of 142% from the average daily volume of 1,159,622 shares. The stock had previously closed at C$0.13.

Sun Summit Minerals Price Performance

The company has a 50 day moving average of C$0.14 and a two-hundred day moving average of C$0.14. The company has a market capitalization of C$32.92 million, a PE ratio of -3.00 and a beta of 0.20.

Insider Buying and Selling at Sun Summit Minerals

In related news, Director Brian Lock sold 460,000 shares of the stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of C$0.14, for a total value of C$64,400.00. Following the completion of the transaction, the director directly owned 1,409,300 shares in the company, valued at C$197,302. This trade represents a 24.61% decrease in their position. 8.82% of the stock is owned by corporate 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.