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

Cartier Resources Inc. (CVE:ECR) rose 15.4% during 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 mid-day trading, an increase of 49% from the average daily volume of 311,942 shares. The stock had previously closed at C$0.20.

Cartier Resources Stock Performance

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 stock’s 50 day moving average is C$0.20 and its 200 day moving average is C$0.15. The stock has a market capitalization of C$105.03 million, a price-to-earnings ratio of -5.95 and a beta of 1.24.

Insider Activity at Cartier Resources

In other news, insider Nancy Lacoursiere sold 292,378 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of C$0.20, for a total transaction of C$58,475.60. Following the completion of the transaction, the insider directly owned 439,700 shares of the company’s stock, valued at C$87,940. This trade represents a 39.94% decrease in their position. Insiders have purchased 151,000 shares of company stock valued at $25,290 in the last quarter. 29.79% of the stock is owned by corporate insiders.

Cartier Resources Company Profile

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.