CMC Metals (CVE:CMB) Shares Down 20% – Time to Sell?

CMC Metals Ltd. (CVE:CMB)’s stock price dropped 20% during 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 target price on CMC Metals and gave the company a “buy” rating in a research note on Monday, January 6th.

CMC Metals Price Performance

The firm has a market capitalization of C$3.15 million, a price-to-earnings ratio of -2.00 and a beta of 0.99. 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 company’s 50 day moving average price is C$0.02 and its 200 day moving average price is C$0.02.

Insiders Place Their Bets

In related news, Director Kevin John Brewer purchased 2,500,000 shares of CMC Metals stock in a transaction that occurred on Thursday, November 21st. The stock was purchased at an average price of C$0.03 per share, for a total transaction of C$62,500.00. In the last 90 days, insiders have purchased 2,565,000 shares of company stock worth $63,800. 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.