Maritime Resources (CVE:MAE) Hits New 12-Month High - Should You Buy?

Key Points

• Maritime Resources Corp. reached a new 52-week high, trading at C$2.17 with a recent last trade of C$2.15, marking a significant increase from its previous close of C$2.06.
• The company has a market capitalization of C$264.88 million, a P/E ratio of -46.99, and a strong financial position with a current ratio of 1.83.
• Insider activity includes Senior Officer Germaine Marleen Coombs selling 72,000 shares at an average price of C$1.22, indicating a significant insider ownership of 43.96%.

Shares of Maritime Resources Corp. (CVE:MAE - Get Free Report) hit a new 52-week high on Wednesday . The stock traded as high as C$2.17 and last traded at C$2.15, with a volume of 584555 shares trading hands. The stock had previously closed at C$2.06.

Maritime Resources Price Performance

The company has a quick ratio of 7.08, a current ratio of 1.83 and a debt-to-equity ratio of 16.11. The company has a 50-day simple moving average of C$1.39 and a two-hundred day simple moving average of C$0.67. The stock has a market cap of C$256.26 million, a P/E ratio of -45.46 and a beta of 0.73.

Insider Buying and Selling at Maritime Resources

In other news, Senior Officer Germaine Marleen Coombs sold 72,000 shares of Maritime Resources stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of C$1.22, for a total value of C$87,480.00. Corporate insiders own 43.96% of the company's stock.

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.