Maritime Resources (CVE:MAE) Shares Down 7.3% – Time to Sell?

Maritime Resources Corp. (CVE:MAE) fell 7.3% during mid-day trading on Tuesday . The stock traded as low as C$0.10 and last traded at C$0.10. 122,190 shares traded hands during trading, a decline of 76% from the average session volume of 514,729 shares. The stock had previously closed at C$0.11.

Maritime Resources Price Performance

The firm has a market capitalization of C$83.10 million, a price-to-earnings ratio of -5.00 and a beta of 1.38. The business has a fifty day moving average of C$0.10 and a two-hundred day moving average of C$0.08. The company has a debt-to-equity ratio of 16.11, a quick ratio of 7.08 and a current ratio of 1.83.

Insider Buying and Selling

In other news, 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. 43.96% of the stock is owned by corporate insiders.

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.