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

Shares of CMC Metals Ltd. (CVE:CMB) were down 20% 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.

Analysts Set New Price Targets

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

CMC Metals Stock Performance

The business’s fifty day simple moving average is C$0.02 and its 200-day simple moving average is 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. The company has a current ratio of 2.50, a quick ratio of 2.80 and a debt-to-equity ratio of 8.84.

Insiders Place Their Bets

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