Maritime Resources (CVE:MAE) Trading 4% Higher - Time to Buy?

Key Points

• Maritime Resources Corp. (CVE:MAE) saw a 4% increase in stock price, closing at C$1.30 after previously closing at C$1.25.
• The company has a market capitalization of C$1.08 billion and a notably high debt-to-equity ratio of 16.11.
• Insiders sold a total of 622,000 shares over the last 90 days, with 43.96% of the stock currently owned by company insiders.

Maritime Resources Corp. (CVE:MAE - Get Free Report)'s share price rose 4% during trading on Tuesday . The stock traded as high as C$1.30 and last traded at C$1.30. Approximately 17,674 shares traded hands during trading, a decline of 67% from the average daily volume of 53,547 shares. The stock had previously closed at C$1.25.

Maritime Resources Price Performance

The company has a debt-to-equity ratio of 16.11, a current ratio of 1.83 and a quick ratio of 7.08. The company has a 50 day moving average price of C$1.00 and a 200 day moving average price of C$0.41. The firm has a market cap of C$997.21 million, a PE ratio of -60.00 and a beta of 1.38.

Insider Activity at Maritime Resources

In other news, Senior Officer Germaine Marleen Coombs sold 72,000 shares of the company's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of C$1.22, for a total transaction of C$87,480.00. Also, Director Garett Macdonald sold 500,000 shares of the company's 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. Insiders have sold 622,000 shares of company stock valued at $147,980 in the last 90 days. 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.