Maritime Resources (CVE:MAE) Stock Price Up 10.2% - Here's Why

Maritime Resources Corp. (CVE:MAE - Get Free Report) shares shot up 10.2% during mid-day trading on Wednesday . The company traded as high as C$1.21 and last traded at C$1.19. 109,366 shares changed hands during trading, an increase of 116% from the average session volume of 50,587 shares. The stock had previously closed at C$1.08.

Maritime Resources Stock Performance

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 cap of C$1.08 billion, a P/E ratio of -65.00 and a beta of 1.38. The stock has a fifty day simple moving average of C$0.14 and a 200-day simple moving average of C$0.10.

Insider Activity at Maritime Resources

In other Maritime Resources news, Director Garett Macdonald sold 500,000 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of C$0.11, for a total transaction 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.

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