CMC Metals (CVE:CMB) Stock Price Down 20% – Here’s What Happened

CMC Metals Ltd. (CVE:CMB)’s share price was down 20% during mid-day trading on Thursday . The company traded as low as C$0.02 and last traded at C$0.02. Approximately 368,400 shares were traded 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.

Analyst Ratings Changes

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

CMC Metals Price Performance

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

Insider Activity

In related news, Director Kevin John Brewer bought 2,500,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were purchased at an average price of C$0.03 per share, with a total value of C$62,500.00. Over the last three months, insiders have acquired 2,565,000 shares of company stock valued at $63,800. Company 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.