Cartier Resources (CVE:ECR) Shares Up 16.7% – Still a Buy?

Cartier Resources Inc. (CVE:ECR) was up 16.7% during mid-day trading on Thursday . The stock traded as high as C$0.25 and last traded at C$0.25. Approximately 888,594 shares changed hands during trading, an increase of 177% from the average daily volume of 320,590 shares. The stock had previously closed at C$0.21.

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Cartier Resources Stock Performance

The stock has a market cap of C$108.47 million, a price-to-earnings ratio of -6.13 and a beta of 1.26. The stock’s 50-day simple moving average is C$0.21 and its two-hundred day simple moving average is C$0.17. The company has a debt-to-equity ratio of 0.22, a quick ratio of 5.52 and a current ratio of 4.55.

Insiders Place Their Bets

In other Cartier Resources news, insider Nancy Lacoursiere sold 292,378 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of C$0.20, for a total value of C$58,475.60. Following the sale, the insider owned 439,700 shares of the company’s stock, valued at C$87,940. This trade represents a 39.94% decrease in their position. 29.79% of the stock is currently owned by insiders.

About Cartier Resources

Cartier Resources Inc engages in the acquisition and exploration of mining properties in Canada. The company explores for gold deposits. Its flagship project is the Chimo mine property located to the east of Val-d'Or, Quebec. The company was incorporated in 2006 and is headquartered in Val-D'or, Canada.