Cartier Resources (CVE:ECR) Trading 19% Higher – What’s Next?

Shares of Cartier Resources Inc. (CVE:ECR) shot up 19% on Wednesday . The company traded as high as C$0.25 and last traded at C$0.25. 883,094 shares were traded during mid-day trading, an increase of 176% from the average session volume of 320,385 shares. The stock had previously closed at C$0.21.

Cartier Resources Price Performance

The stock’s 50 day moving average price is C$0.21 and its 200-day moving average price is C$0.17. The company has a quick ratio of 5.52, a current ratio of 4.55 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of C$110.69 million, a PE ratio of -6.25 and a beta of 1.26.

Insider Buying and Selling

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 transaction, the insider directly owned 439,700 shares of the company’s stock, valued at approximately C$87,940. This trade represents a 39.94% decrease in their ownership of the stock. 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.