Magna Terra Minerals (CVE:MTT) Trading 50% Higher – Time to Buy?

Magna Terra Minerals Inc. (CVE:MTT)’s stock price was up 50% during mid-day trading on Wednesday . The stock traded as high as C$0.08 and last traded at C$0.08. Approximately 469,991 shares were traded 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 Down 14.3 %

The company has a debt-to-equity ratio of 0.05, a current ratio of 0.30 and a quick ratio of 0.54. The firm has a market capitalization of C$4.99 million, a P/E ratio of -6.00 and a beta of 1.29. The business has a 50 day moving average price of C$0.04 and a 200 day moving average price of C$0.03.

Insiders Place Their Bets

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