Magna Terra Minerals (CVE:MTT) Trading Up 50% – Here’s What Happened

Magna Terra Minerals Inc. (CVE:MTT)’s share price shot up 50% on Tuesday . The company traded as high as C$0.08 and last traded at C$0.08. 428,991 shares traded hands during trading, an increase of 176% from the average session volume of 155,517 shares. The stock had previously closed at C$0.05.

Magna Terra Minerals Stock Performance

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 company has a market cap of C$4.99 million, a PE ratio of -6.00 and a beta of 1.29. The business has a fifty day simple moving average of C$0.04 and a two-hundred day simple moving average of C$0.03.

Insiders Place Their Bets

In related news, insider Signal Gold Inc. sold 15,035,795 shares of the business’s 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. 31.70% of the stock is currently owned by corporate insiders.

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.