Magna Terra Minerals (CVE:MTT) Stock Price Up 50% – Still a Buy?

Shares of Magna Terra Minerals Inc. (CVE:MTT) traded up 50% on Wednesday . The company traded as high as C$0.08 and last traded at C$0.08. 469,991 shares were traded during mid-day 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 Performance

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. The company has a 50 day simple moving average of C$0.03 and a 200-day simple moving average of C$0.03. The company has a quick ratio of 0.54, a current ratio of 0.30 and a debt-to-equity ratio of 0.05.

Insider Activity

In other news, insider Signal Gold Inc. sold 15,035,795 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of C$0.02, for a total transaction of C$225,536.93. 31.70% of the stock is currently owned by company insiders.

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.