Magna Terra Minerals (CVE:MTT) Stock Price Down 18.2% – Time to Sell?

Magna Terra Minerals Inc. (CVE:MTT) shares dropped 18.2% during mid-day trading on Monday . The company traded as low as C$0.04 and last traded at C$0.05. Approximately 155,000 shares traded hands during trading, an increase of 12% from the average daily volume of 138,119 shares. The stock had previously closed at C$0.06.

Magna Terra Minerals Trading Down 18.2 %

The stock has a market capitalization of C$3.74 million, a P/E ratio of -4.50 and a beta of 1.29. The stock’s fifty day moving average price is C$0.03 and its 200 day moving average price is 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.

Insiders Place Their Bets

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