Arianne Phosphate (CVE:DAN) Trading 10.3% Higher – Still a Buy?

Arianne Phosphate Inc. (CVE:DAN)’s stock price shot up 10.3% during mid-day trading on Monday . The company traded as high as C$0.22 and last traded at C$0.22. 386,466 shares were traded during trading, an increase of 164% from the average session volume of 146,197 shares. The stock had previously closed at C$0.20.

Arianne Phosphate Trading Up 10.3%

The company has a debt-to-equity ratio of 84.98, a current ratio of 0.75 and a quick ratio of 1.68. The firm has a market capitalization of C$45.95 million, a price-to-earnings ratio of 5.38 and a beta of 0.86. The firm’s 50-day simple moving average is C$0.20 and its 200 day simple moving average is C$0.17.

Insiders Place Their Bets

In related news, insider Mercury Financing Corp. sold 552,831 shares of the business’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of C$0.25, for a total value of C$138,207.75. Following the transaction, the insider owned 20,573,000 shares in the company, valued at C$5,143,250. The trade was a 2.62% decrease in their ownership of the stock. Corporate insiders own 11.65% of the company’s stock.

Arianne Phosphate Company Profile

Arianne Phosphate Inc engages in the acquisition and exploration of mining properties in Canada. It primarily focuses on developing Lac à Paul phosphate project located in the Saguenay-Lac St-Jean area, Quebec. Arianne Phosphate Inc was founded in 1997 and is headquartered in Chicoutimi, Canada.