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

Magna Terra Minerals Inc. (CVE:MTT)’s share price shot up 50% on Wednesday . The company traded as high as C$0.08 and last traded at C$0.08. 469,991 shares changed hands during trading, an increase of 193% from the average session volume of 160,628 shares. The stock had previously closed at C$0.05.

Magna Terra Minerals Stock Performance

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

Insiders Place Their Bets

In other news, insider Signal Gold Inc. sold 15,035,795 shares of the firm’s 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. 31.70% of the stock is owned by company insiders.

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.