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

Sable Resources Ltd. (CVE:SAE) experienced a significant decline in its share price, dropping 16.7% on Friday. The company's stock traded as low as C$0.03 and was last seen trading at the same price. During this trading session, 758,789 shares changed hands, representing an increase of 342% compared to the average trading volume of 171,599 shares. Previously, the stock had closed at C$0.03.

Sable Resources Trading Down 16.7%

The firm currently has a market capitalization of C$7.18 million and a price-to-earnings (P/E) ratio of -0.63, suggesting that the company is operating at a loss. Furthermore, it has a beta of 1.08, indicating that the stock is slightly more volatile than the broader market. The stock's 50-day simple moving average stands at C$0.04, while its two-hundred day simple moving average also sits at C$0.04. Sable Resources shows a current ratio of 0.69 and a quick ratio of 40.33, along with a debt-to-equity ratio of 1.33, reflecting its financial stability and leverage.

About Sable Resources

Sable Resources Ltd. is actively involved in the acquisition, exploration, and development of mineral resources primarily located in Mexico and Argentina. The company specializes in exploring for various minerals, including gold, silver, copper, lead, zinc, and others. Notably, Sable Resources holds a 100% interest in the Don Julio project, which spans an area of 63,314 hectares. Additionally, it controls other significant projects such as the El Fierro project, covering 58,510 hectares, and several other ventures situated in San Juan Province, Argentina, as well as the Vinata and El Escarpe projects in Mexico.

Sable, Resources, Stocks