CMC Metals (CVE:CMB) Trading Down 20% – Time to Sell?

CMC Metals Ltd. (CVE:CMB) shares dropped 20% during trading on Monday . The company traded as low as C$0.02 and last traded at C$0.02. Approximately 128,167 shares were traded during mid-day trading, a decline of 3% from the average daily volume of 132,053 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 research report on Monday, January 6th.

CMC Metals Price Performance

The company has a 50 day moving average price of C$0.02 and a 200-day moving average price of C$0.02. 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 company has a market cap of C$3.15 million, a price-to-earnings ratio of -2.00 and a beta of 0.99.

Insider Buying and Selling at CMC Metals

In related news, Director Kevin John Brewer purchased 2,500,000 shares of the firm’s stock in a transaction dated 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. Corporate 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.