Maritime Resources (CVE:MAE) Shares Up 20.4% - Should You Buy?

Maritime Resources Corp. (CVE:MAE - Get Free Report) shot up 20.4% during mid-day trading on Thursday . The company traded as high as C$1.34 and last traded at C$1.30. 367,257 shares were traded during mid-day trading, an increase of 589% from the average session volume of 53,288 shares. The stock had previously closed at C$1.08.

Maritime Resources Trading Down 0.7%

The stock's 50 day moving average price is C$0.22 and its 200-day moving average price is C$0.12. 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 stock has a market capitalization of C$1.12 billion, a PE ratio of -67.50 and a beta of 1.38.

Insider Transactions at Maritime Resources

In other news, Director Garett Macdonald sold 500,000 shares of the stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of C$0.11, for a total value of C$55,000.00. 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.