Magna Terra Minerals (CVE:MTT) Trading Up 50% – Time to Buy?

Magna Terra Minerals Inc. (CVE:MTT) was up 50% during trading on Tuesday . The stock traded as high as C$0.08 and last traded at C$0.08. Approximately 468,991 shares traded hands during mid-day trading, an increase of 192% from the average daily volume of 160,517 shares. The stock had previously closed at C$0.05.

Magna Terra Minerals Stock Performance

The company’s 50-day moving average price is C$0.03 and its 200 day moving average price is C$0.03. The stock has a market capitalization of C$6.23 million, a PE ratio of -7.50 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.

Insiders Place Their Bets

In other news, insider Signal Gold Inc. sold 15,035,795 shares of Magna Terra Minerals 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. 31.70% of the stock is currently owned by company 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.