Sarama Resources (CVE:SWA) Stock Price Down 11.1% – Here’s What Happened

Sarama Resources Ltd (CVE:SWA)’s stock price was down 11.1% on Monday . The company traded as low as C$0.04 and last traded at C$0.04. Approximately 101,000 shares were traded during mid-day trading, a decline of 33% from the average daily volume of 151,082 shares. The stock had previously closed at C$0.05.

Sarama Resources Stock Performance

The company has a market cap of C$18.52 million, a PE ratio of -2.22 and a beta of 2.40. The company has a debt-to-equity ratio of 21.52, a quick ratio of 3.66 and a current ratio of 0.51. The stock’s 50-day simple moving average is C$0.04 and its 200 day simple moving average is C$0.04.

Insider Buying and Selling

In other Sarama Resources news, insider Paul Raymond Paul Schmiede acquired 841,894 shares of the stock in a transaction on Monday, November 3rd. The shares were bought at an average price of C$0.05 per share, with a total value of C$42,094.70. Following the acquisition, the insider owned 12,019,324 shares of the company’s stock, valued at C$600,966.20. This trade represents a 7.53% increase in their ownership of the stock. 3.76% of the stock is currently owned by insiders.

Sarama Resources Company Profile

Sarama Resources Ltd, an exploration stage company, engages in the sourcing, exploration, and development of gold deposits in West Africa. It explores for gold. The company holds 100% interest in the Sanutura Project covering an area of approximately 1,420 square kilometers; and 18% interest in the Karankasso Project covering an area of approximately 750 square kilometers located in Burkina Faso. It also holds 100% interest in the Koumandara Project comprises four exploration properties covering an area of approximately 467 square kilometers located within the northern Banfora Greenstone Belt, south-west Burkina Faso.