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

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

Maritime Resources Stock Performance

The company has a quick ratio of 7.08, a current ratio of 1.83 and a debt-to-equity ratio of 16.11. The stock has a fifty day moving average price of C$2.24 and a 200-day moving average price of C$2.24. 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.