Serengeti Resources (CVE:SIR) Trading 2.1% Higher – Should You Buy?

Shares of Serengeti Resources Inc. (CVE:SIR) shot up 2.1% during mid-day trading on Thursday . The company traded as high as C$0.50 and last traded at C$0.49. 70,621 shares were traded during mid-day 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 Up 2.1 %

The business’s 50 day simple moving average is C$0.49 and its 200-day simple moving average is C$0.49. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.40 and a current ratio of 1.44. The company has a market cap of C$54.39 million and a price-to-earnings 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.