Magna Terra Minerals (CVE:MTT) Shares Down 13.3% – Here’s What Happened

Magna Terra Minerals Inc. (CVE:MTT) dropped 13.3% during trading on Wednesday . The company traded as low as C$0.07 and last traded at C$0.07. Approximately 272,384 shares changed hands during mid-day trading, an increase of 59% from the average daily volume of 171,787 shares. The stock had previously closed at C$0.08.

Magna Terra Minerals Stock Down 6.7 %

The stock has a market cap of C$5.82 million, a price-to-earnings ratio of -7.00 and a beta of 1.29. The firm has a 50 day simple moving average of C$0.04 and a two-hundred day simple moving average of C$0.03. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.30 and a quick ratio of 0.54.

Insider Activity at Magna Terra Minerals

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