Sable Resources (CVE:SAE) Shares Down 16.7% – Here’s Why

Sable Resources Ltd. (CVE:SAE) experienced a significant decline of 16.7% in its shares on Friday. The stock was observed trading as low as C$0.03, maintaining this price by the end of the trading session. In total, 758,789 shares were traded, a notable increase of 342% compared to the average trading volume of 171,599 shares. The previous closing price was also C$0.03.

Sable Resources Trading Down 16.7%

The company currently holds a market capitalization of C$7.18 million. As for its financial metrics, the firm has a negative price-to-earnings (P/E) ratio of -0.63, alongside a beta of 1.08, indicating a higher volatility compared to the market. Its recent performance analysis shows a 50-day simple moving average of C$0.04 and a two-hundred-day simple moving average of C$0.04. Additionally, Sable Resources has a current ratio of 0.69, indicating potential liquidity issues, and a quick ratio of 40.33, which suggests an ability to cover short-term liabilities significantly. The debt-to-equity ratio stands at 1.33, showing a considerable amount of debt relative to equity.

About Sable Resources

Sable Resources Ltd. focuses on the acquisition, exploration, and development of mineral resource properties in Mexico and Argentina. The company has been actively exploring for various minerals, including gold, silver, copper, lead, and zinc. Sable Resources owns 100% interests in several projects, including the Don Julio project, which spans 63,314 hectares, and the El Fierro project, covering 58,510 hectares. Other projects include El Fierrazo, Los Pumas, and Laspina, all situated in San Juan Province, Argentina, as well as the Vinata and El Escarpe projects located in Mexico.

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