Maritime Resources (CVE:MAE) Shares Down 1.6% - Here's What Happened

Key Points

• Maritime Resources Corp. (CVE:MAE) saw its stock price decrease by 1.6%, closing at C$1.27, with a trading volume significantly lower than the average at 34,483 shares.
• The company has a market capitalization of C$1.06 billion and a notable debt-to-equity ratio of 16.11, indicating a high level of leverage.
• Senior Officer Germaine Marleen Coombs sold 72,000 shares recently at an average price of C$1.22, reflecting the insider selling trend amid market fluctuations.

Maritime Resources Corp. (CVE:MAE - Get Free Report)'s stock price fell 1.6% during trading on Wednesday . The company traded as low as C$1.27 and last traded at C$1.27. 34,483 shares traded hands during mid-day trading, a decline of 43% from the average session volume of 60,690 shares. The stock had previously closed at C$1.29.

Maritime Resources Stock Performance

The stock has a market capitalization of C$221.76 million, a price-to-earnings ratio of -39.34 and a beta of 0.71. 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's 50-day simple moving average is C$1.26 and its 200 day simple moving average is C$0.56.

Insider Transactions at Maritime Resources

In related news, Senior Officer Germaine Marleen Coombs sold 72,000 shares of the firm's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of C$1.22, for a total value of C$87,480.00. 43.96% of the stock is currently owned by corporate insiders.

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.