Power Metals (CVE:PWM) Trading Up 1.8% – Here’s What Happened

Shares of Power Metals Corp. (CVE:PWM) traded up 1.8% on Wednesday . The stock traded as high as C$0.59 and last traded at C$0.58. 79,256 shares traded hands during trading, a decline of 60% from the average session volume of 197,194 shares. The stock had previously closed at C$0.57.

Power Metals Stock Performance

The company has a market capitalization of C$101.22 million, a price-to-earnings ratio of -58.00 and a beta of 0.17. The company’s fifty day simple moving average is C$0.50 and its two-hundred day simple moving average is C$0.64.

Insiders Place Their Bets

In other Power Metals news, insider Winsome Resources Limited sold 20,000,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of C$0.13, for a total transaction of C$2,600,000.00. Following the completion of the transaction, the insider directly owned 214,000 shares of the company’s stock, valued at C$27,820. This trade represents a 98.94% decrease in their position. Over the last ninety days, insiders have sold 20,245,500 shares of company stock worth $2,714,790. 1.94% of the stock is owned by company insiders.

About Power Metals

Power Metals Corp., an exploration company, engages in the acquisition, exploration, and evaluation of resource properties in Canada. The company primarily explores for lithium, cesium, and tantalum metal deposits. It holds a 100% interest in the Case Lake property that consists of 475 cell claims located in Ontario. The company also has an option agreement to acquire 100% interests in the Paterson Lake property consisting of 106 cell claims located in northwestern Ontario; and holds Gullwing-Tot Lake property that consists of 112 cell claims located in northwestern Ontario.