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

CMC Metals Ltd. (CVE:CMB) shares fell 20% during mid-day trading on Thursday . The company 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.

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 report on Monday, January 6th.

CMC Metals Price Performance

The stock has a market capitalization 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 current ratio of 2.50 and a quick ratio of 2.80. The firm’s 50 day simple moving average is C$0.02 and its 200 day simple moving average is C$0.02.

Insider Activity at CMC Metals

In related news, Director Kevin John Brewer bought 2,500,000 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was bought at an average cost of C$0.03 per share, for a total transaction of C$62,500.00. In the last 90 days, insiders have acquired 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.