Cartier Resources (CVE:ECR) Stock Price Up 15.4% – Should You Buy?

Shares of Cartier Resources Inc. (CVE:ECR) rose 15.4% during mid-day trading on Monday . The company traded as high as C$0.23 and last traded at C$0.23. Approximately 464,680 shares traded hands during trading, an increase of 49% from the average daily volume of 312,131 shares. The stock had previously closed at C$0.20.

Cartier Resources Trading Up 1.3%

The company’s 50-day moving average is C$0.20 and its 200 day moving average is C$0.15. 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$105.03 million, a PE ratio of -5.95 and a beta of 1.24.

Insider Activity

In other news, insider Nancy Lacoursiere sold 292,378 shares of the stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of C$0.20, for a total value of C$58,475.60. Following the completion of the sale, the insider owned 439,700 shares in the company, valued at C$87,940. This represents a 39.94% decrease in their ownership of the stock. Insiders acquired a total of 151,000 shares of company stock valued at $25,290 in the last ninety days. 29.79% of the stock is owned by corporate 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.