Magna Terra Minerals (CVE:MTT) Shares Up 40% – Still a Buy?

Magna Terra Minerals Inc. (CVE:MTT)’s share price was up 40% during mid-day trading on Tuesday . The stock traded as high as C$0.07 and last traded at C$0.07. Approximately 331,965 shares were traded during mid-day trading, an increase of 139% from the average daily volume of 138,719 shares. The stock had previously closed at C$0.05.

Magna Terra Minerals Trading Down 14.3 %

The firm’s 50 day moving average price is C$0.04 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. The stock has a market cap of C$4.99 million, a P/E ratio of -6.00 and a beta of 1.29.

Insider Activity at Magna Terra Minerals

In other 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 value of C$225,536.93. 31.70% of the stock is currently 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.