Maritime Resources (CVE:MAE) Stock Price Down 1.6% - Here's Why

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 - )'s share price traded down 1.6% during mid-day trading on Wednesday . The company traded as low as C$1.27 and last traded at C$1.27. 34,483 shares were traded 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's fifty day simple moving average is C$1.24 and its two-hundred day simple moving average is C$0.51. The company has a market cap of C$1.06 billion, a price-to-earnings ratio of -63.50 and a beta of 1.38. The company has a debt-to-equity ratio of 16.11, a quick ratio of 7.08 and a current ratio of 1.83.

Insiders Place Their Bets

In related news, Senior Officer Germaine Marleen Coombs sold 72,000 shares of the stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of C$1.22, for a total value of C$87,480.00. Company 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.

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