Magna Terra Minerals (CVE:MTT) Trading Up 50% – Time to Buy?

Magna Terra Minerals Inc. (CVE:MTT)’s stock price traded up 50% 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 Trading Up 50.0 %

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’s 50-day moving average is C$0.03 and its two-hundred day moving average is C$0.03. The stock has a market cap of C$6.23 million, a P/E ratio of -7.50 and a beta of 1.29.

Insiders Place Their Bets

In other news, insider Signal Gold Inc. sold 15,035,795 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of C$0.02, for a total value of C$225,536.93. Corporate 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.