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

Shares of Magna Terra Minerals Inc. (CVE:MTT) shot up 50% during 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 Price Performance

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

Insider Transactions at Magna Terra Minerals

In related news, insider Signal Gold Inc. sold 15,035,795 shares of Magna Terra Minerals stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of C$0.02, for a total value of C$225,536.93. Company 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.