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

Magna Terra Minerals Inc. (CVE:MTT) rose 50% on Wednesday . The company 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 Price Performance

The company has a market cap of C$6.23 million, a price-to-earnings ratio of -7.50 and a beta of 1.29. The company’s 50-day simple moving average is C$0.03 and its 200-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.

Insider Activity

In other Magna Terra Minerals news, insider Signal Gold Inc. sold 15,035,795 shares of the business’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. 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.