Maritime Resources (CVE:MAE) Shares Up 20.4% - What's Next?

Shares of Maritime Resources Corp. (CVE:MAE - Get Free Report) shot up 20.4% on Thursday . The company traded as high as C$1.34 and last traded at C$1.30. 367,257 shares traded hands during mid-day trading, an increase of 589% from the average session volume of 53,288 shares. The stock had previously closed at C$1.08.

Maritime Resources Stock Performance

The stock has a 50 day moving average price of C$0.22 and a two-hundred 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. The company has a market cap of C$1.12 billion, a price-to-earnings ratio of -67.50 and a beta of 1.38.

Insider Activity

In related news, Director Garett Macdonald sold 500,000 shares of the company's stock in a transaction 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. 43.96% of the stock is currently owned by company insiders.

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.