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

Shares of Magna Terra Minerals Inc. (CVE:MTT) traded 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 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 Up 50.0 %

The firm’s 50-day simple moving average is C$0.03 and its 200 day simple moving average is C$0.03. 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 stock has a market capitalization of C$6.23 million, a P/E ratio of -7.50 and a beta of 1.29.

Insider Buying and Selling

In other news, insider Signal Gold Inc. sold 15,035,795 shares of the firm’s 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 owned by corporate insiders.

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.