Magna Terra Minerals (CVE:MTT) Trading Down 9.1% – Here’s Why

Shares of Magna Terra Minerals Inc. (CVE:MTT) dropped 9.1% during mid-day trading on Friday . The stock traded as low as C$0.15 and last traded at C$0.15. Approximately 302,340 shares changed hands during trading, an increase of 110% from the average daily volume of 143,979 shares. The stock had previously closed at C$0.17.

Wall Street Analysts Forecast Growth

Separately, Atrium Research upgraded Magna Terra Minerals to a “strong-buy” rating in a research report on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, Magna Terra Minerals presently has an average rating of “Strong Buy”.

Magna Terra Minerals Stock Performance

The company has a market cap of C$16.21 million, a PE ratio of -15.00 and a beta of 0.36. The stock’s 50 day simple moving average is C$0.15 and its two-hundred day simple moving average is C$0.13. The company has a quick ratio of 0.54, a current ratio of 0.30 and a debt-to-equity ratio of 0.05.

About Magna Terra Minerals

Magna Terra Minerals Inc engages in the acquisition and exploration of mining properties in Canada and Argentina. It explores for gold and silver deposits. The company owns 100% interest in the Viking and Great Northern Projects located in the Newfoundland and Labrador; Cape Spencer Project located in the east of the City of Saint John, New Brunswick; Hawkins Love Project located in west of the City of Saint John, New Brunswick. It also holds 100% control in the Luna Roja Project located in the Santa Cruz Province, Argentina; Piedra Negra Project located in the Santa Cruz Province, Argentina; Cerro Covadonga Project located in Argentina; El Meridiano Project is located in the Deseado Massif, Santa Cruz Province; Gertrudis Project is in the north-eastern part of the Deseado Massif, Argentina; La Rosita M.D.