Magna Terra Minerals (CVE:MTT) Shares Up 50% – Still a Buy?

Magna Terra Minerals Inc. (CVE:MTT) shares rose 50% during mid-day trading on Tuesday . The company traded as high as C$0.08 and last traded at C$0.08. Approximately 428,991 shares traded hands during trading, an increase of 176% from the average daily volume of 155,517 shares. The stock had previously closed at C$0.05.

Magna Terra Minerals Trading Up 50.0 %

The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.54 and a current ratio of 0.30. The firm has a market cap of C$6.23 million, a P/E ratio of -7.50 and a beta of 1.29. The firm has a 50 day simple moving average of C$0.03 and a 200 day simple moving average of C$0.03.

Insiders Place Their Bets

In related news, insider Signal Gold Inc. sold 15,035,795 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of C$0.02, for a total value of C$225,536.93. Corporate insiders own 31.70% of the company’s stock.

About Magna Terra Minerals

Magna Terra Minerals Inc engages in the acquisition and exploration of mining properties in Canada and Argentina. It explores for gold and silver deposits. The company owns 100% interest in the Viking and Great Northern Projects located in the Newfoundland and Labrador; Cape Spencer Project located in the east of the City of Saint John, New Brunswick; Hawkins Love Project located in west of the City of Saint John, New Brunswick.