Keras Resources (LON:KRS) Stock Price Up 10.7% After Insider Buying Activity

Keras Resources Plc (LON:KRS) shares were up 10.7% on Friday after an insider bought additional shares in the company. The company traded as high as GBX 1.55 ($0.02) and last traded at GBX 1.55 ($0.02). Approximately 532,050 shares changed hands during mid-day trading, an increase of 253% from the average daily volume of 150,825 shares. The stock had previously closed at GBX 1.40 ($0.02).

Specifically, insider Russell Lamming bought 4,285,714 shares of Keras Resources stock in a transaction on Thursday, August 14th. The stock was acquired at an average price of GBX 1 ($0.01) per share, with a total value of £42,857.14 ($58,087.75).

Keras Resources Trading Up 12.4%

The firm has a market cap of £1.50 million, a P/E ratio of -1.94 and a beta of 1.02. The stock has a fifty day simple moving average of GBX 1.36 and a 200 day simple moving average of GBX 1.46. The company has a debt-to-equity ratio of 48.82, a quick ratio of 0.15 and a current ratio of 1.37.

Keras Resources (LON:KRS) last posted its earnings results on Monday, June 30th. The company reported GBX 0.88 ($0.01) EPS for the quarter. Keras Resources had a negative return on equity of 20.87% and a negative net margin of 61.02%.

Keras Resources Company Profile

Keras Resources (AIM: KRS) wholly owns the Diamond Creek organic phosphate mine in Utah, US. Diamond Creek is one of the highest-grade organic phosphate deposits in the US and is a fully integrated mine to market operation with in-house processing facilities. The operation produces a variety of organic phosphate products that can be tailored to customer requirements for fertiliser.

The Company is focused on continuing to build market share in the fast-growing US organic fertiliser market and build Diamond Creek into the premier organic phosphate producer in the US.

Additionally, Keras holds an 85% interest in the Nayéga manganese project in Togo, which hosts an 8.4 million tonne manganese oxide Ore Reserve in northern Togo, held through Togolese subsidiary Société Générale des Mines SA (SGM).