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

Magna Terra Minerals Inc. (CVE:MTT)’s share price shot up 50% during trading on Wednesday . The stock traded as high as C$0.08 and last traded at C$0.08. 469,991 shares were traded 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 Down 14.3 %

The company has a fifty day moving average of C$0.04 and a two-hundred day moving average of 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. The stock has a market capitalization of C$4.99 million, a price-to-earnings ratio of -6.00 and a beta of 1.29.

Insider Transactions at Magna Terra Minerals

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