Cartier Resources (CVE:ECR) Trading Up 19.4% – Time to Buy?

Cartier Resources Inc. (CVE:ECR) rose 19.4% on Monday . The stock traded as high as C$0.22 and last traded at C$0.22. Approximately 1,658,773 shares changed hands during trading, an increase of 480% from the average daily volume of 286,177 shares. The stock had previously closed at C$0.18.

Cartier Resources Trading Up 19.4%

The company has a 50-day moving average price of C$0.19 and a two-hundred day moving average price of C$0.14. The stock has a market cap of C$94.88 million, a P/E ratio of -5.38 and a beta of 1.10. The company has a current ratio of 4.55, a quick ratio of 5.52 and a debt-to-equity ratio of 0.22.

Insiders Place Their Bets

In related news, insider Nancy Lacoursiere sold 292,378 shares of Cartier Resources stock in a transaction dated 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 completion of the transaction, the insider directly owned 439,700 shares of the company’s stock, valued at approximately C$87,940. The trade was a 39.94% decrease in their position. Insiders have acquired a total of 151,000 shares of company stock worth $25,290 in the last quarter. Insiders own 29.79% of the company’s stock.

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.