Serengeti Resources (CVE:SIR) Shares Up 2.1% – Here’s Why

Serengeti Resources Inc. (CVE:SIR)’s share price shot up 2.1% during mid-day trading on Thursday . The stock traded as high as C$0.50 and last traded at C$0.49. 70,621 shares traded hands during trading, a decline of 28% from the average session volume of 97,510 shares. The stock had previously closed at C$0.48.

Serengeti Resources Stock Performance

The company has a quick ratio of 1.40, a current ratio of 1.44 and a debt-to-equity ratio of 0.31. The stock has a fifty day simple moving average of C$0.49 and a 200-day simple moving average of C$0.49. The company has a market capitalization of C$54.39 million and a P/E ratio of -8.60.

Serengeti Resources Company Profile

Serengeti Resources Inc acquires and explores for mineral properties in Canada. It company explores for gold, copper, and silver deposits. The company's flagship property is the Kwanika project that covers an area of 25,928 hectares located in the northern Quesnel Trough, British Columbia. It also has an option to acquire 100% interest in Top Cat project covering an area of approximately 21,600 hectares situated in central British Columbia.