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

CMC Metals Ltd. (CVE:CMB) dropped 20% during trading on Wednesday . The stock traded as low as C$0.02 and last traded at C$0.02. Approximately 440,732 shares were traded during mid-day trading, an increase of 176% from the average daily volume of 159,677 shares. The stock had previously closed at C$0.03.

Analysts Set New Price Targets

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

CMC Metals Stock Up 25.0 %

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 business’s fifty day moving average price is C$0.02 and its two-hundred day moving average price is C$0.02. The firm has a market cap of C$3.94 million, a P/E ratio of -2.50 and a beta of 0.99.

Insiders Place Their Bets

In related news, Director Kevin John Brewer purchased 2,500,000 shares of CMC Metals stock in a transaction on Thursday, November 21st. The stock was bought at an average price of C$0.03 per share, with a total value of C$62,500.00. Company 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.