CMC Metals (CVE:CMB) Shares Down 20% – Should You Sell?

CMC Metals Ltd. (CVE:CMB)’s stock price dropped 20% on Thursday . The company traded as low as C$0.02 and last traded at C$0.02. Approximately 440,732 shares changed hands during trading, an increase of 176% from the average daily volume of 159,677 shares. The stock had previously closed at C$0.03.

Analysts Set New Price Targets

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

CMC Metals Trading Down 20.0 %

The firm’s fifty day simple moving average is C$0.02 and its 200 day simple moving average is C$0.02. The stock has a market capitalization of C$3.15 million, a P/E 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 Activity at CMC Metals

In other CMC Metals news, Director Kevin John Brewer acquired 2,500,000 shares of CMC Metals stock in a transaction that occurred on Thursday, November 21st. The shares were acquired at an average cost of C$0.03 per share, with a total value of C$62,500.00. 5.86% of the stock is currently owned by insiders.

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.