CMC Metals (CVE:CMB) Shares Down 25% – Here’s Why

CMC Metals Ltd. (CVE:CMB) was down 25% during trading on Monday . The company traded as low as C$0.02 and last traded at C$0.02. Approximately 124,424 shares were traded during mid-day trading, an increase of 9% from the average daily volume of 114,534 shares. The stock had previously closed at C$0.02.

Wall Street Analyst Weigh In

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

CMC Metals Trading Up 33.3 %

The business has a 50 day simple moving average of C$0.02 and a 200-day simple moving average of C$0.02. The stock has a market capitalization of C$3.15 million, a price-to-earnings ratio of -2.00 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.

Insider Transactions at CMC Metals

In other news, Director Kevin John Brewer purchased 2,500,000 shares of CMC Metals stock in a transaction on Thursday, November 21st. The stock was purchased at an average price of C$0.03 per share, with a total value of C$62,500.00. Insiders purchased 2,565,000 shares of company stock valued at $63,800 over the last quarter. Corporate insiders own 5.86% of the company’s stock.

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.