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

Shares of Karnalyte Resources Inc. (TSE:KRN) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$0.22 and traded as high as C$0.36. Karnalyte Resources shares last traded at C$0.36, with a volume of 1,029 shares trading hands.

Karnalyte Resources Stock Performance

The company has a debt-to-equity ratio of 0.18, a current ratio of 2.86 and a quick ratio of 6.40. The firm has a fifty day simple moving average of C$0.30 and a 200 day simple moving average of C$0.22. The company has a market cap of C$18.92 million, a price-to-earnings ratio of -17.75 and a beta of -1.39.

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.