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

CMC Metals Ltd. (CVE:CMB) shares dropped 20% during trading on Wednesday . The stock traded as low as C$0.02 and last traded at C$0.02. Approximately 440,732 shares were traded during mid-day trading, an increase of 176% from the average daily volume of 159,677 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 stock a “buy” rating in a report on Monday, January 6th.

CMC Metals Stock Performance

The stock’s fifty day simple moving average is C$0.02 and its two-hundred day simple moving average is C$0.02. The company has a market cap of C$3.15 million, a price-to-earnings ratio of -2.00 and a beta of 0.99. The company has a debt-to-equity ratio of 8.84, a quick ratio of 2.80 and a current ratio of 2.50.

Insider Buying and Selling

In other CMC Metals news, Director Kevin John Brewer bought 2,500,000 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was purchased at an average price of C$0.03 per share, with a total value of C$62,500.00. Corporate 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.