Magna Terra Minerals (CVE:MTT) Stock Price Up 15.4% – Time to Buy?

Magna Terra Minerals Inc. (CVE:MTT) shot up 15.4% during mid-day trading on Tuesday . The company traded as high as C$0.08 and last traded at C$0.08. 557,617 shares changed hands during trading, an increase of 172% from the average session volume of 204,792 shares. The stock had previously closed at C$0.07.

Magna Terra Minerals Price Performance

The company has a current ratio of 0.30, a quick ratio of 0.54 and a debt-to-equity ratio of 0.05. The business has a fifty day simple moving average of C$0.04 and a 200 day simple moving average of C$0.03. The stock has a market capitalization of C$6.23 million, a P/E ratio of -7.50 and a beta of 1.29.

Insider Activity at Magna Terra Minerals

In other 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 value of C$225,536.93. 31.70% of the stock is currently owned by 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.