CMC Metals (CVE:CMB) Shares Down 20% – Time to Sell?

CMC Metals Ltd. (CVE:CMB) dropped 20% during mid-day trading on Wednesday . The stock traded as low as C$0.02 and last traded at C$0.02. Approximately 368,400 shares changed hands during mid-day trading, an increase of 215% from the average daily volume of 117,127 shares. The stock had previously closed at C$0.03.

Wall Street Analysts Forecast Growth

Separately, Fundamental Research set a C$0.12 price objective on CMC Metals and gave the stock a “buy” rating in a research note on Monday, January 6th.

CMC Metals Stock Down 20.0 %

The firm has a market cap of C$3.15 million, a P/E ratio of -2.00 and a beta of 0.99. The firm’s 50-day moving average price is C$0.02 and its 200 day moving average price is C$0.02. The company has a quick ratio of 2.80, a current ratio of 2.50 and a debt-to-equity ratio of 8.84.

Insiders Place Their Bets

In other CMC Metals news, Director Kevin John Brewer purchased 2,500,000 shares of CMC Metals stock in a transaction on Thursday, November 21st. The stock was bought at an average price of C$0.03 per share, for a total transaction of C$62,500.00. In the last 90 days, insiders bought 2,565,000 shares of company stock worth $63,800. Insiders own 5.86% of the company’s stock.

About CMC Metals

CMC Metals Ltd. engages in the acquisition and exploration of mineral properties in Canada and the United States. The company explores for silver, zinc, lead, gold, copper, antimony, bismuth, and tungsten deposits. It holds a 100% interest in the Silver Hart property that includes 116 claims covering an area of 2,017 hectares located in south-central Yukon.