CMC Metals (CVE:CMB) Trading Down 20% – Here’s Why

CMC Metals Ltd. (CVE:CMB) shares were down 20% on Wednesday . The company traded as low as C$0.02 and last traded at C$0.02. Approximately 367,400 shares traded hands during trading, an increase of 214% from the average daily volume of 117,083 shares. The stock had previously closed at C$0.03.

Wall Street Analyst Weigh In

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

CMC Metals Trading Down 20.0 %

The business has a 50 day moving average of C$0.02 and a 200 day moving average of 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. The firm has a market cap of C$3.15 million, a price-to-earnings ratio of -2.00 and a beta of 0.99.

Insider Buying and Selling

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

CMC Metals Company Profile

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.