Magna Terra Minerals (CVE:MTT) Trading Down 9.1% – Here’s What Happened

Magna Terra Minerals Inc. (CVE:MTT) traded down 9.1% on Friday . The company traded as low as C$0.15 and last traded at C$0.15. 302,340 shares changed hands during mid-day trading, an increase of 111% from the average session volume of 143,422 shares. The stock had previously closed at C$0.17.

Wall Street Analyst Weigh In

Separately, Atrium Research upgraded Magna Terra Minerals to a “strong-buy” rating in a research note on Monday, October 27th. One research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the company has a consensus rating of “Strong Buy”.

Magna Terra Minerals Trading Down 9.1%

The company has a market cap of C$16.21 million, a P/E ratio of -15.00 and a beta of 0.36. 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 firm’s 50-day moving average price is C$0.15 and its 200-day moving average price is C$0.13.

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. It also holds 100% control in the Luna Roja Project located in the Santa Cruz Province, Argentina; Piedra Negra Project located in the Santa Cruz Province, Argentina; Cerro Covadonga Project located in Argentina; El Meridiano Project is located in the Deseado Massif, Santa Cruz Province; Gertrudis Project is in the north-eastern part of the Deseado Massif, Argentina; La Rosita M.D.