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

CMC Metals Ltd. (CVE:CMB)’s share price was down 20% during mid-day trading on Wednesday . The stock traded as low as C$0.02 and last traded at C$0.02. Approximately 368,400 shares were traded 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.

Wall Street Analyst Weigh In

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

CMC Metals Price Performance

The company has a debt-to-equity ratio of 8.84, a quick ratio of 2.80 and a current ratio of 2.50. The company has a market capitalization of C$3.15 million, a PE ratio of -2.00 and a beta of 0.99. The company’s 50-day simple moving average is C$0.02 and its 200-day simple moving average is C$0.02.

Insider Buying and Selling

In other news, Director Kevin John Brewer acquired 2,500,000 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were purchased at an average cost of C$0.03 per share, for a total transaction of C$62,500.00. Insiders have purchased a total of 2,565,000 shares of company stock valued at $63,800 over the last quarter. 5.86% of the stock is currently owned by insiders.

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.