CMC Metals (CVE:CMB) Trading Down 20% – Should You Sell?

CMC Metals Ltd. (CVE:CMB) shares 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 trading, an increase of 176% from the average daily volume of 159,677 shares. The stock had previously closed at C$0.03.

Wall Street Analyst Weigh In

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

CMC Metals Price Performance

The company has a market cap of C$3.94 million, a PE ratio of -2.50 and a beta of 0.99. The company has a quick ratio of 2.80, a current ratio of 2.50 and a debt-to-equity ratio of 8.84. The firm has a 50 day simple moving average of C$0.02 and a 200-day simple moving average of C$0.02.

Insiders Place Their Bets

In related news, Director Kevin John Brewer acquired 2,500,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were purchased at an average price of C$0.03 per share, for a total transaction of C$62,500.00. Corporate 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.