Magna Terra Minerals (CVE:MTT) Trading Up 7.4% – Time to Buy?

Magna Terra Minerals Inc. (CVE:MTT) shares shot up 7.4% during mid-day trading on Thursday . The stock traded as high as C$0.30 and last traded at C$0.29. 121,819 shares traded hands during mid-day trading, an increase of 30% from the average daily volume of 93,516 shares. The stock had previously closed at C$0.27.

Magna Terra Minerals Price Performance

The stock has a fifty day moving average of C$0.20 and a two-hundred day moving average of C$0.18. 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 stock has a market cap of C$31.97 million, a price-to-earnings ratio of 29.50 and a beta of 0.26.

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. 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.