Karnalyte Resources (TSE:KRN) Stock Price Up 24.4% – What’s Next?

Karnalyte Resources Inc. (TSE:KRN) was up 24.4% on Tuesday . The company traded as high as C$0.28 and last traded at C$0.28. Approximately 136,204 shares changed hands during mid-day trading, an increase of 394% from the average daily volume of 27,584 shares. The stock had previously closed at C$0.23.

Karnalyte Resources Stock Up 21.9%

The company has a quick ratio of 6.40, a current ratio of 2.86 and a debt-to-equity ratio of 0.18. The company has a market capitalization of C$20.78 million, a PE ratio of -19.50 and a beta of -0.83. The stock has a 50-day moving average of C$0.22 and a 200 day moving average of C$0.17.

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.