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

CMC Metals Ltd. (CVE:CMB) fell 20% during trading on Thursday . The stock traded as low as C$0.02 and last traded at C$0.02. 368,400 shares were traded during mid-day trading, an increase of 215% from the average session volume of 117,127 shares. The stock had previously closed at C$0.03.

Wall Street Analyst Weigh In

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

CMC Metals Stock Performance

The company’s 50 day moving average price is C$0.02 and its 200 day moving average price is 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. The firm 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

In other news, Director Kevin John Brewer purchased 2,500,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was bought at an average price of C$0.03 per share, for a total transaction of C$62,500.00. Insiders bought 2,565,000 shares of company stock worth $63,800 over the last 90 days. 5.86% of the stock is owned by 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.