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

Magna Terra Minerals Inc. (CVE:MTT) shares shot up 50% during mid-day trading on Wednesday . The stock traded as high as C$0.08 and last traded at C$0.08. 469,991 shares traded hands during mid-day 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 stock has a market capitalization of C$4.99 million, a price-to-earnings ratio of -6.00 and a beta of 1.29. The company has a quick ratio of 0.54, a current ratio of 0.30 and a debt-to-equity ratio of 0.05. The company has a 50 day simple moving average of C$0.04 and a 200-day simple moving average of C$0.03.

Insider Buying and Selling

In other Magna Terra Minerals news, insider Signal Gold Inc. sold 15,035,795 shares of the 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 value of C$225,536.93. 31.70% of the stock is owned by insiders.

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.