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

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

Maritime Resources Price Performance

The stock has a market capitalization of C$1.12 billion, a price-to-earnings ratio of -67.50 and a beta of 1.38. The company's 50-day simple moving average is C$0.22 and its 200-day simple moving average is C$0.12. The company has a debt-to-equity ratio of 16.11, a current ratio of 1.83 and a quick ratio of 7.08.

Insider Buying and Selling

In other Maritime Resources news, Director Garett Macdonald sold 500,000 shares of the stock in a transaction that occurred on 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 currently 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.