Magna Terra Minerals (CVE:MTT) Reaches New 52-Week High – Still a Buy?

Magna Terra Minerals Inc. (CVE:MTT) shares hit a new 52-week high during trading on Friday . The company traded as high as C$0.17 and last traded at C$0.17, with a volume of 95500 shares changing hands. The stock had previously closed at C$0.16.

Analysts Set New Price Targets

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

Magna Terra Minerals Price Performance

The stock has a market cap of C$18.33 million, a P/E ratio of 16.00 and a beta of 0.82. The company’s 50 day moving average price is C$0.15 and its 200-day moving average price is C$0.12. 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.