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

Shares of CMC Metals Ltd. (CVE:CMB) dropped 20% during mid-day trading on Thursday . The company traded as low as C$0.02 and last traded at C$0.02. Approximately 440,732 shares changed hands 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 Ratings Changes

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

CMC Metals Stock Up 25.0 %

The stock has a market capitalization of C$3.94 million, a PE ratio of -2.50 and a beta of 0.99. 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 business’s fifty day moving average price is C$0.02 and its two-hundred day moving average price is C$0.02.

Insider Buying and Selling

In related news, Director Kevin John Brewer bought 2,500,000 shares of the stock in a transaction dated Thursday, November 21st. The shares were purchased at an average price of C$0.03 per share, for a total transaction of C$62,500.00. 5.86% of the stock is owned by corporate 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.