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

Shares of 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 368,400 shares traded hands during mid-day trading, an increase of 215% from the average daily volume of 117,127 shares. The stock had previously closed at C$0.03.

Analyst Upgrades and Downgrades

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

CMC Metals Price Performance

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 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 50-day moving average price of C$0.02 and a 200-day moving average price of C$0.02.

Insider Transactions at CMC Metals

In other news, Director Kevin John Brewer bought 2,500,000 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was acquired at an average price of C$0.03 per share, for a total transaction of C$62,500.00. Insiders bought a total of 2,565,000 shares of company stock worth $63,800 over the last ninety days. 5.86% of the stock is currently owned by corporate insiders.

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.