Magna Terra Minerals (CVE:MTT) Shares Up 12.9% – Here’s Why

Magna Terra Minerals Inc. (CVE:MTT) shares rose 12.9% on Monday . The company traded as high as C$0.18 and last traded at C$0.17. 277,050 shares traded hands during trading, an increase of 228% from the average daily volume of 84,391 shares. The stock had previously closed at C$0.15.

Magna Terra Minerals Price Performance

The firm has a market capitalization of C$18.96 million, a price-to-earnings ratio of 17.50 and a beta of -0.08. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.54 and a current ratio of 0.30. The company’s fifty day moving average price is C$0.16 and its 200 day moving average price is C$0.16.

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.