Maritime Resources (CVE:MAE) Shares Up 20.4% – Here’s Why

Maritime Resources Corp. (CVE:MAE)’s stock price rose 20.4% on Thursday . The company traded as high as C$1.34 and last traded at C$1.30. Approximately 367,257 shares were traded during mid-day trading, an increase of 589% from the average daily volume of 53,288 shares. The stock had previously closed at C$1.08.

Maritime Resources Stock Performance

The company has a debt-to-equity ratio of 16.11, a quick ratio of 7.08 and a current ratio of 1.83. The company has a market cap of C$1.08 billion, a P/E ratio of -65.00 and a beta of 1.38. The firm has a 50 day moving average price of C$0.17 and a 200-day moving average price of C$0.11.

Insider Buying and Selling

In related news, Director Garett Macdonald sold 500,000 shares of the firm’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. 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.