Karnalyte Resources (TSE:KRN) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

Shares of Karnalyte Resources Inc. (TSE:KRN) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$0.15 and traded as high as C$0.19. Karnalyte Resources shares last traded at C$0.17, with a volume of 4,150 shares traded.

Karnalyte Resources Stock Down 13.2%

The firm has a market capitalization of C$8.79 million, a PE ratio of -8.25 and a beta of -0.71. The company has a current ratio of 2.86, a quick ratio of 6.40 and a debt-to-equity ratio of 0.18. The firm has a 50-day moving average of C$0.21 and a two-hundred day moving average of C$0.15.

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.