Cartier Resources (CVE:ECR) Stock Price Up 19.4% – Still a Buy?

Cartier Resources Inc. (CVE:ECR) shares rose 19.4% on Tuesday . The stock traded as high as C$0.22 and last traded at C$0.22. Approximately 1,658,773 shares traded hands during mid-day trading, an increase of 480% from the average daily volume of 286,177 shares. The stock had previously closed at C$0.18.

Cartier Resources Stock Up 2.4%

The company’s 50 day moving average price is C$0.19 and its two-hundred day moving average price is C$0.14. The company has a current ratio of 4.55, a quick ratio of 5.52 and a debt-to-equity ratio of 0.22. The firm has a market cap of C$94.88 million, a PE ratio of -5.38 and a beta of 1.24.

Insiders Place Their Bets

In other Cartier Resources news, insider Nancy Lacoursiere sold 292,378 shares of the business’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of C$0.20, for a total transaction of C$58,475.60. Following the completion of the sale, the insider owned 439,700 shares of the company’s stock, valued at approximately C$87,940. The trade was a 39.94% decrease in their ownership of the stock. Insiders acquired 151,000 shares of company stock worth $25,290 in the last quarter. 29.79% of the stock is currently owned by insiders.

About Cartier Resources

Cartier Resources Inc engages in the acquisition and exploration of mining properties in Canada. The company explores for gold deposits. Its flagship project is the Chimo mine property located to the east of Val-d'Or, Quebec. The company was incorporated in 2006 and is headquartered in Val-D'or, Canada.