CMC Metals (CVE:CMB) Trading Down 20% – Should You Sell?

CMC Metals Ltd. (CVE:CMB) dropped 20% during mid-day trading on Wednesday . The stock traded as low as C$0.02 and last traded at C$0.02. Approximately 368,400 shares changed hands 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 price objective on CMC Metals and gave the company a “buy” rating in a research note on Monday, January 6th.

CMC Metals Price Performance

The company has a market cap of C$3.15 million, a PE ratio of -2.00 and a beta of 0.99. 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 company’s 50-day simple moving average is C$0.02 and its 200 day simple moving average is C$0.02.

Insider Transactions at CMC Metals

In related news, Director Kevin John Brewer bought 2,500,000 shares of the stock in a transaction dated Thursday, November 21st. The stock was acquired at an average price of C$0.03 per share, for a total transaction of C$62,500.00. In the last three months, insiders bought 2,565,000 shares of company stock valued at $63,800. 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.