Maritime Resources (CVE:MAE) Stock Jumps 5.2% – Here’s Why

Maritime Resources Corp. (CVE:MAE) shares rose 5.2% during trading on Thursday. The company traded as high as C$2.26 and last traded at C$2.24. 459,522 shares were traded during mid-day trading, an increase of 249% from the average daily volume of 131,580 shares. The stock had previously closed at C$2.13.

Maritime Resources Stock Performance

The company has a market capitalization of C$277.83 million, a price-to-earnings ratio of -48.96 and a beta of 1.46. The firm has a fifty day simple moving average of C$2.24 and a 200 day simple moving average of C$2.24. The company has a debt-to-equity ratio of 16.11, a current ratio of 1.83 and a quick ratio of 7.08.

Maritime Resources Company Profile

Maritime Resources Corp., an exploration stage company, engages in the exploration and development of mineral properties. The company primarily explores for gold, silver, copper, lead, and zinc deposits. It also holds 100% interests in the Lac Pelletier project that consists of 16 mineral claims and 1 mining lease covering an area of 443 hectares located in Rouyn Noranda, Quebec; and Wright Property located in Temiscaming, Canada. In addition, the company holds interests in the Green Bay project, as well as Whisker Valley project situated in Newfoundland and Labrador; and Orion deposit located to the east of Hammerdown.