Maritime Resources (CVE:MAE) Shares Up 18.5% - Still a Buy?

Shares of Maritime Resources Corp. (CVE:MAE - Get Free Report) rose 18.5% on Wednesday . The company traded as high as C$1.28 and last traded at C$1.28. Approximately 229,767 shares changed hands during trading, an increase of 341% from the average daily volume of 52,070 shares. The stock had previously closed at C$1.08.

Maritime Resources Stock Performance

The stock has a market capitalization of C$1.08 billion, a P/E ratio of -65.00 and a beta of 1.38. 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 moving average price of C$0.14 and a two-hundred day moving average price of C$0.10.

Insider Activity at Maritime Resources

In related news, Director Garett Macdonald sold 500,000 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of C$0.11, for a total transaction of C$55,000.00. 43.96% of the stock is owned by 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.

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