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

Shares of CMC Metals Ltd. (CVE:CMB) traded down 20% during trading on Thursday . The company traded as low as C$0.02 and last traded at C$0.02. 368,400 shares traded hands during mid-day trading, an increase of 215% from the average session volume of 117,127 shares. The stock had previously closed at C$0.03.

Wall Street Analysts Forecast Growth

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

CMC Metals Stock Performance

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 stock has a market cap of C$3.15 million, a P/E ratio of -2.00 and a beta of 0.99. The firm’s 50-day simple moving average is C$0.02 and its 200 day simple moving average is C$0.02.

Insider Transactions at CMC Metals

In related news, Director Kevin John Brewer purchased 2,500,000 shares of CMC Metals stock in a transaction dated Thursday, November 21st. The stock was bought at an average cost of C$0.03 per share, with a total value of C$62,500.00. In the last three months, insiders purchased 2,565,000 shares of company stock valued at $63,800. Company 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.