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

Magna Terra Minerals Inc. (CVE:MTT)’s stock price was up 50% during trading on Wednesday . The company traded as high as C$0.08 and last traded at C$0.08. Approximately 469,991 shares changed 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 Price Performance

The firm’s 50 day simple moving average is C$0.04 and its two-hundred day simple moving average is 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. The firm has a market capitalization of C$4.99 million, a P/E ratio of -6.00 and a beta of 1.29.

Insider Activity

In other Magna Terra Minerals news, insider Signal Gold Inc. sold 15,035,795 shares of Magna Terra Minerals stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of C$0.02, for a total value of C$225,536.93. 31.70% of the stock is currently owned by corporate 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.