Magna Terra Minerals (CVE:MTT) Trading Down 6.7% – Here’s What Happened

Shares of Magna Terra Minerals Inc. (CVE:MTT) dropped 6.7% on Wednesday . The company traded as low as C$0.07 and last traded at C$0.07. Approximately 460,384 shares traded hands during mid-day trading, an increase of 167% from the average daily volume of 172,604 shares. The stock had previously closed at C$0.08.

Magna Terra Minerals Stock Performance

The stock has a market capitalization of C$5.40 million, a PE ratio of -6.50 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. The firm’s 50 day moving average is C$0.04 and its two-hundred day moving average is C$0.03.

Insiders Place Their Bets

In other Magna Terra Minerals news, insider Signal Gold Inc. sold 15,035,795 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of C$0.02, for a total value of C$225,536.93. Insiders own 31.70% of the company’s stock.

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.