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

CMC Metals Ltd. (CVE:CMB) fell 20% during mid-day trading on Wednesday . The company traded as low as C$0.02 and last traded at C$0.02. 368,400 shares changed hands during mid-day trading, an increase of 215% from the average session volume of 117,083 shares. The stock had previously closed at C$0.03.

Wall Street Analysts Forecast Growth

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

CMC Metals Stock Performance

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 firm has a 50 day moving average price of C$0.02 and a 200 day moving average price of C$0.02. The stock has a market cap of C$3.15 million, a PE ratio of -2.00 and a beta of 0.99.

Insider Buying and Selling at CMC Metals

In related news, Director Kevin John Brewer acquired 2,500,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was purchased at an average cost of C$0.03 per share, for a total transaction of C$62,500.00. In the last quarter, insiders have acquired 2,565,000 shares of company stock valued at $63,800. Company insiders own 5.86% of the company’s stock.

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.