Maritime Resources (CVE:MAE) Shares Up 23.1% - Still a Buy?

Maritime Resources Corp. (CVE:MAE - Get Free Report) shares rose 23.1% on Wednesday . The company traded as high as C$1.34 and last traded at C$1.33. Approximately 350,721 shares changed hands during mid-day trading, an increase of 563% from the average daily volume of 52,893 shares. The stock had previously closed at C$1.08.

Maritime Resources Trading Up 4.6%

The company has a current ratio of 1.83, a quick ratio of 7.08 and a debt-to-equity ratio of 16.11. The stock has a market cap of C$1.13 billion, a price-to-earnings ratio of -68.00 and a beta of 1.38. The company has a fifty day simple moving average of C$0.17 and a 200-day simple moving average of C$0.11.

Insider Buying and Selling at Maritime Resources

In other 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 value of C$55,000.00. Company 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.