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

CMC Metals Ltd. (CVE:CMB) shares were down 20% during mid-day trading on Wednesday . The company traded as low as C$0.02 and last traded at C$0.02. Approximately 440,732 shares were traded during trading, an increase of 176% from the average daily volume of 159,677 shares. The stock had previously closed at C$0.03.

Analyst Upgrades and Downgrades

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

CMC Metals Trading Up 25.0 %

The company has a debt-to-equity ratio of 8.84, a quick ratio of 2.80 and a current ratio of 2.50. The business has a fifty day simple moving average of C$0.02 and a 200 day simple moving average of C$0.02. The stock has a market cap of C$3.94 million, a price-to-earnings ratio of -2.50 and a beta of 0.99.

Insider Activity at CMC Metals

In other news, Director Kevin John Brewer purchased 2,500,000 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were bought at an average cost 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.