Maritime Resources (CVE:MAE) Shares Down 7.3% - Time to Sell?

Maritime Resources Corp. (CVE:MAE - Get Free Report)'s share price traded down 7.3% on Tuesday . The stock traded as low as C$0.10 and last traded at C$0.10. 112,190 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 514,346 shares. The stock had previously closed at C$0.11.

Maritime Resources Price Performance

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 firm's 50 day simple moving average is C$0.10 and its two-hundred day simple moving average is C$0.08. The firm has a market cap of C$87.26 million, a price-to-earnings ratio of -5.25 and a beta of 1.38.

Insider Buying and Selling at Maritime Resources

In other Maritime Resources news, Director Garett Macdonald sold 500,000 shares of the firm's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of C$0.11, for a total value of C$55,000.00. Insiders own 43.96% of the company's stock.

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.