Maritime Resources (CVE:MAE) Stock Price Up 10%

Maritime Resources Corp. (CVE:MAE – Get Rating)’s share price rose 10% on Wednesday . The stock traded as high as C$0.06 and last traded at C$0.06. Approximately 101,000 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 320,769 shares. The stock had previously closed at C$0.05.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group set a C$0.20 target price on shares of Maritime Resources and gave the stock a “speculative buy” rating in a report on Tuesday, May 10th.

Maritime Resources Price Performance

The company has a debt-to-equity ratio of 1.30, a current ratio of 3.57 and a quick ratio of 3.53. The firm has a 50-day moving average of C$0.06 and a 200-day moving average of C$0.10. The stock has a market cap of C$20.01 million and a PE ratio of -10.00.

Maritime Resources Company Profile

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Maritime Resources Corp., an exploration stage company, engages in the exploration and development of mineral properties. It primarily explores for gold, silver, copper, lead, and zinc deposits. The company holds 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; Green Bay project, as well as Whisker Valley project situated in Newfoundland and Labrador; and Orion deposit located to the east of Hammerdown.