Maritime Resources (CVE:MAE) Shares Up 5.2% – Here’s Why

Maritime Resources Corp. (CVE:MAE) rose 5.2% during mid-day trading on Thursday . The stock traded as high as C$2.26 and last traded at C$2.24. Approximately 459,522 shares traded hands during mid-day trading, an increase of 249% from the average daily volume of 131,580 shares. The stock had previously closed at C$2.13.

Maritime Resources Price Performance

The stock has a 50-day moving average price of C$2.24 and a 200 day moving average price of C$2.16. The company has a debt-to-equity ratio of 16.11, a current ratio of 1.83 and a quick ratio of 7.08. The firm has a market cap of C$277.83 million, a price-to-earnings ratio of -48.96 and a beta of 1.46.

About Maritime Resources

Maritime Resources Corp., an exploration stage company, engages in the exploration and development of mineral properties. The company primarily explores for gold, silver, copper, lead, and zinc deposits. It also holds 100% interests in the Lac Pelletier project that consists of 16 mineral claims and 1 mining lease covering an area of 443 hectares located in Rouyn Noranda, Quebec; and Wright Property located in Temiscaming, Canada. In addition, the company holds interests in the Green Bay project, as well as Whisker Valley project situated in Newfoundland and Labrador; and Orion deposit located to the east of Hammerdown.