Maritime Resources (CVE:MAE) Trading 20.4% Higher – What’s Next?

Shares of Maritime Resources Corp. (CVE:MAE) traded up 20.4% on Thursday . The stock 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 Up 20.4%

The firm has a market capitalization of C$1.08 billion, a PE ratio of -65.00 and a beta of 1.38. The company has a fifty day simple moving average of C$0.17 and a two-hundred day simple moving average of C$0.11. The company has a debt-to-equity ratio of 16.11, a quick ratio of 7.08 and a current ratio of 1.83.

Insiders Place Their Bets

In related news, Director Garett Macdonald sold 500,000 shares of the company’s stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of C$0.11, for a total transaction 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.