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

CMC Metals Ltd. (CVE:CMB)’s stock price dropped 20% during mid-day trading on Thursday . The stock traded as low as C$0.02 and last traded at C$0.02. Approximately 440,732 shares traded 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 Upgrades and Downgrades

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

CMC Metals Stock Performance

The firm 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 current ratio of 2.50, a quick ratio of 2.80 and a debt-to-equity ratio of 8.84. The firm’s fifty day moving average price is C$0.02 and its 200 day moving average price is C$0.02.

Insider Activity

In other CMC Metals news, Director Kevin John Brewer bought 2,500,000 shares of CMC Metals stock in a transaction 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. 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.