CMC Metals (CVE:CMB) Shares Down 25% – Here’s Why

CMC Metals Ltd. (CVE:CMB)’s share price dropped 25% during trading on Monday . The stock traded as low as C$0.02 and last traded at C$0.02. Approximately 124,424 shares changed hands during mid-day trading, an increase of 9% from the average daily volume of 114,316 shares. The stock had previously closed at C$0.02.

Wall Street Analyst Weigh In

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

CMC Metals Stock Down 25.0 %

The firm has a market cap of C$2.37 million, a price-to-earnings ratio of -1.50 and a beta of 0.99. 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 company has a debt-to-equity ratio of 8.84, a current ratio of 2.50 and a quick ratio of 2.80.

Insider Buying and Selling

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