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

Magna Terra Minerals Inc. (CVE:MTT)’s share price shot up 50% during mid-day trading on Tuesday . The stock traded as high as C$0.08 and last traded at C$0.08. 469,991 shares changed hands 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 Stock Up 50.0 %

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

Insiders Place Their Bets

In related news, insider Signal Gold Inc. sold 15,035,795 shares of the firm’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. 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.