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

Magna Terra Minerals Inc. (CVE:MTT) shares shot up 50% on Wednesday . The stock traded as high as C$0.08 and last traded at C$0.08. 469,991 shares traded 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 Price Performance

The stock’s 50 day moving average is C$0.04 and its two-hundred day moving average is C$0.03. The stock has a market capitalization of C$4.99 million, a PE ratio of -6.00 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.

Insiders Place Their Bets

In other news, insider Signal Gold Inc. sold 15,035,795 shares of the company’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. 31.70% of the stock is owned by 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.