Magna Terra Minerals (CVE:MTT) Trading 50% Higher – Should You Buy?

Magna Terra Minerals Inc. (CVE:MTT)’s share price shot up 50% during mid-day trading on Wednesday . The stock traded as high as C$0.08 and last traded at C$0.08. 469,991 shares changed hands during mid-day 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 stock has a market capitalization of C$4.99 million, a price-to-earnings ratio of -6.00 and a beta of 1.29. 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 stock has a 50-day moving average of C$0.04 and a 200 day moving average of C$0.03.

Insider Activity

In related news, insider Signal Gold Inc. sold 15,035,795 shares of Magna Terra Minerals 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. 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.