Magna Terra Minerals (CVE:MTT) Trading 50% Higher – Here’s What Happened

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 469,991 shares were traded during trading, an increase of 193% from the average daily volume of 160,628 shares. The stock had previously closed at C$0.05.

Magna Terra Minerals Stock Performance

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 stock has a market cap of C$6.23 million, a P/E ratio of -7.50 and a beta of 1.29. The stock has a fifty day simple moving average of C$0.03 and a 200-day simple moving average of C$0.03.

Insiders Place Their Bets

In other news, insider Signal Gold Inc. sold 15,035,795 shares of Magna Terra Minerals stock in a transaction dated 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.

Magna Terra Minerals Company Profile

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.