Sarama Resources (CVE:SWA) Shares Down 11.1% – Time to Sell?

Sarama Resources Ltd (CVE:SWA)’s share price was down 11.1% during trading on Monday . The stock 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 Price Performance

The firm has a fifty day moving average price of C$0.04 and a two-hundred day moving average price of C$0.04. The company has a quick ratio of 3.66, a current ratio of 0.51 and a debt-to-equity ratio of 21.52. The stock has a market capitalization of C$18.52 million, a P/E ratio of -2.22 and a beta of 2.40.

Insiders Place Their Bets

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

About Sarama Resources

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.