Magna Terra Minerals (CVE:MTT) Stock Price Up 50% – Time to Buy?

Magna Terra Minerals Inc. (CVE:MTT) shares rose 50% during trading on Wednesday . The stock traded as high as C$0.08 and last traded at C$0.08. Approximately 469,991 shares traded hands during mid-day 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 market capitalization of C$4.99 million, a P/E ratio of -6.00 and a beta of 1.29. The company has a current ratio of 0.30, a quick ratio of 0.54 and a debt-to-equity ratio of 0.05. The company’s fifty day moving average is C$0.04 and its 200 day moving average is C$0.03.

Insider Transactions at Magna Terra Minerals

In related news, insider Signal Gold Inc. sold 15,035,795 shares of the business’s 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. 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.