Magna Terra Minerals (CVE:MTT) Shares Up 40% – Should You Buy?

Shares of Magna Terra Minerals Inc. (CVE:MTT) rose 40% during trading on Tuesday . The company traded as high as C$0.08 and last traded at C$0.07. Approximately 399,991 shares were traded during trading, an increase of 166% from the average daily volume of 150,628 shares. The stock had previously closed at C$0.05.

Magna Terra Minerals Stock Performance

The stock has a market cap of C$4.99 million, a price-to-earnings ratio of -6.00 and a beta of 1.29. The company’s fifty day simple moving average is C$0.04 and its two-hundred day simple moving average 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.

Insider Buying and Selling

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 stock was sold at an average price of C$0.02, for a total transaction of C$225,536.93. 31.70% of the stock is currently owned by company 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.