Maritime Resources (CVE:MAE) Hits New 1-Year High - Still a Buy?

Key Points

• Maritime Resources Corp. (CVE:MAE) reached a new 52-week high, trading at C$1.53, a jump of 7.0% from its previous close of C$1.43.
• The company has a market capitalization of C$1.27 billion and impressive liquidity indicators with a current ratio of 1.83 and a quick ratio of 7.08.
• 43.96% of the company's stock is held by insiders, highlighting significant internal confidence, while one senior officer sold 72,000 shares at an average price of C$1.22.

Shares of Maritime Resources Corp. (CVE:MAE - Get Free Report) reached a new 52-week high during trading on Friday . The stock traded as high as C$1.53 and last traded at C$1.52, with a volume of 30189 shares traded. The stock had previously closed at C$1.43.

Maritime Resources Price Performance

The company has a market cap of C$187.27 million, a price-to-earnings ratio of -33.22 and a beta of 0.71. The company has a current ratio of 1.83, a quick ratio of 7.08 and a debt-to-equity ratio of 16.11. The company's 50 day moving average price is C$1.25 and its 200 day moving average price is C$0.55.

Insider Activity at Maritime Resources

In related news, Senior Officer Germaine Marleen Coombs sold 72,000 shares of the firm's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of C$1.22, for a total value of C$87,480.00. 43.96% of the stock is owned by company insiders.

About Maritime Resources

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.