Magna Terra Minerals (CVE:MTT) Trading 40% Higher – Should You Buy?

Magna Terra Minerals Inc. (CVE:MTT)’s stock price rose 40% during mid-day trading on Tuesday . The stock traded as high as C$0.07 and last traded at C$0.07. Approximately 331,965 shares changed hands during mid-day trading, an increase of 139% from the average daily volume of 138,719 shares. The stock had previously closed at C$0.05.

Magna Terra Minerals Price Performance

The company has a market capitalization of C$5.82 million, a PE ratio of -7.00 and a beta of 1.29. The company has a quick ratio of 0.54, a current ratio of 0.30 and a debt-to-equity ratio of 0.05. The firm’s 50 day simple moving average is C$0.03 and its 200 day simple moving average is C$0.03.

Insider Transactions at Magna Terra Minerals

In other news, insider Signal Gold Inc. sold 15,035,795 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of C$0.02, for a total transaction of C$225,536.93. Company 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.