CMC Metals (CVE:CMB) Trading Down 25% – Here’s What Happened

CMC Metals Ltd. (CVE:CMB) shares dropped 25% during trading on Monday . The company traded as low as C$0.02 and last traded at C$0.02. Approximately 120,500 shares changed hands during mid-day trading, an increase of 6% from the average daily volume of 113,344 shares. The stock had previously closed at C$0.02.

Analyst Upgrades and Downgrades

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

CMC Metals Price Performance

The firm has a fifty day moving average price of C$0.02 and a two-hundred day moving average price 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 stock has a market capitalization of C$3.15 million, a P/E ratio of -2.00 and a beta of 0.99.

Insider Buying and Selling at CMC Metals

In other news, Director Kevin John Brewer purchased 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, for a total transaction of C$62,500.00. In the last ninety days, insiders bought 2,565,000 shares of company stock worth $63,800. 5.86% of the stock is owned by corporate 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.