Sparton Resources (CVE:SRI) Trading 40% Higher – Time to Buy?

Shares of Sparton Resources Inc. (CVE:SRI) were up 40% during mid-day trading on Thursday . The stock traded as high as C$0.04 and last traded at C$0.04. Approximately 167,000 shares traded hands during trading, an increase of 40% from the average daily volume of 119,642 shares. The stock had previously closed at C$0.03.

Sparton Resources Stock Performance

The firm has a market capitalization of C$5.95 million, a PE ratio of -4.22 and a beta of 0.77. The company has a debt-to-equity ratio of 25.38, a quick ratio of 0.19 and a current ratio of 0.40. The firm’s 50 day moving average price is C$0.02 and its 200-day moving average price is C$0.02.

About Sparton Resources

Sparton Resources Inc, an exploration and development stage company, engages in the exploration and evaluation of properties in Canada. It has an option agreement to acquire interest in the Bruell Gold Property comprises 20 claims located in Vauquelin Township, Quebec; and Sir Harry Oakes Gold Property, including 46 mining claims and 3 mining leases in the Matachewan Gold Area; and Pens Polymetallic Property.