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

Shares of Magna Terra Minerals Inc. (CVE:MTT) rose 50% during mid-day trading on Wednesday . The company traded as high as C$0.08 and last traded at C$0.08. Approximately 469,991 shares traded hands during mid-day trading, an increase of 193% from the average daily volume of 160,628 shares. The stock had previously closed at C$0.05.

Magna Terra Minerals Trading Up 50.0 %

The firm has a 50-day moving average of C$0.03 and a 200 day moving average of C$0.03. 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 stock has a market capitalization of C$6.23 million, a price-to-earnings ratio of -7.50 and a beta of 1.29.

Insider Activity

In other news, insider Signal Gold Inc. sold 15,035,795 shares of the company’s stock in a transaction that occurred on 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.

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.