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

Magna Terra Minerals Inc. (CVE:MTT) shares 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 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 Trading Up 50.0 %

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. The firm’s 50-day moving average is C$0.03 and its 200-day moving average is C$0.03. The company has a current ratio of 0.30, a quick ratio of 0.54 and a debt-to-equity ratio of 0.05.

Insider Buying and Selling at Magna Terra Minerals

In other news, insider Signal Gold Inc. sold 15,035,795 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were 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.

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.