Cartier Resources (CVE:ECR) Stock Price Up 16.7% – Here’s Why

Shares of Cartier Resources Inc. (CVE:ECR) rose 16.7% during trading on Wednesday . The company traded as high as C$0.25 and last traded at C$0.25. Approximately 888,594 shares traded hands during mid-day trading, an increase of 177% from the average daily volume of 320,590 shares. The stock had previously closed at C$0.21.

Cartier Resources Stock Up 16.7%

The company has a market capitalization of C$108.47 million, a price-to-earnings ratio of -6.13 and a beta of 1.26. The firm’s 50 day moving average price is C$0.21 and its two-hundred day moving average price is C$0.17. The company has a current ratio of 4.55, a quick ratio of 5.52 and a debt-to-equity ratio of 0.22.

Insiders Place Their Bets

In other Cartier Resources news, insider Nancy Lacoursiere sold 292,378 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider owned 439,700 shares of the company’s stock, valued at C$87,940. The trade was a 39.94% decrease in their ownership of the stock. 29.79% of the stock is currently owned by company 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.