Arianne Phosphate (CVE:DAN) Shares Up 15.4% – Still a Buy?

Arianne Phosphate Inc. (CVE:DAN) shares rose 15.4% during mid-day trading on Monday . The stock traded as high as C$0.23 and last traded at C$0.23. Approximately 421,106 shares were traded during mid-day trading, an increase of 186% from the average daily volume of 147,045 shares. The stock had previously closed at C$0.20.

Arianne Phosphate Trading Up 10.3%

The company has a current ratio of 0.75, a quick ratio of 1.68 and a debt-to-equity ratio of 84.98. The business has a 50 day moving average of C$0.20 and a 200-day moving average of C$0.17. The firm has a market capitalization of C$45.95 million, a P/E ratio of 5.38 and a beta of 0.86.

Insider Activity at Arianne Phosphate

In related news, insider Mercury Financing Corp. sold 552,831 shares of the company’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of C$0.25, for a total value of C$138,207.75. Following the completion of the transaction, the insider directly owned 20,573,000 shares of the company’s stock, valued at approximately C$5,143,250. This represents a 2.62% decrease in their position. 11.65% of the stock is currently owned by insiders.

About Arianne Phosphate

Arianne Phosphate Inc engages in the acquisition and exploration of mining properties in Canada. It primarily focuses on developing Lac à Paul phosphate project located in the Saguenay-Lac St-Jean area, Quebec. Arianne Phosphate Inc was founded in 1997 and is headquartered in Chicoutimi, Canada.