Magna Terra Minerals (CVE:MTT) Trading 50% Higher – Still a Buy?

Shares of Magna Terra Minerals Inc. (CVE:MTT) traded up 50% during mid-day trading 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 Price Performance

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

Insider Activity

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