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

Magna Terra Minerals Inc. (CVE:MTT)’s share price shot up 50% during trading on Wednesday . The stock traded as high as C$0.08 and last traded at C$0.08. 469,991 shares were traded 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 Stock Performance

The company has a current ratio of 0.30, a quick ratio of 0.54 and a debt-to-equity ratio of 0.05. The company has a market cap of C$4.99 million, a price-to-earnings ratio of -6.00 and a beta of 1.29. The stock has a 50 day moving average price of C$0.04 and a two-hundred day moving average price of C$0.03.

Insider Buying and Selling at Magna Terra Minerals

In related news, insider Signal Gold Inc. sold 15,035,795 shares of Magna Terra Minerals 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 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.