Maritime Resources (CVE:MAE) Trading Up 19.4% - What's Next?

Maritime Resources Corp. (CVE:MAE - Get Free Report)'s stock price shot up 19.4% during mid-day trading on Wednesday . The stock traded as high as C$1.34 and last traded at C$1.29. 354,022 shares traded hands during mid-day trading, an increase of 566% from the average session volume of 53,164 shares. The stock had previously closed at C$1.08.

Maritime Resources Price Performance

The firm has a market capitalization of C$1.12 billion, a P/E ratio of -67.50 and a beta of 1.38. The firm has a 50 day moving average price of C$0.22 and a 200-day moving average price of C$0.12. The company has a current ratio of 1.83, a quick ratio of 7.08 and a debt-to-equity ratio of 16.11.

Insider Activity

In other news, Director Garett Macdonald sold 500,000 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was 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.

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.