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

CMC Metals Ltd. (CVE:CMB)’s share price was down 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 changed 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.

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 Stock Down 20.0 %

The business’s 50 day moving average price is C$0.02 and its 200-day moving average price is C$0.02. 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 firm has a market capitalization of C$3.15 million, a PE ratio of -2.00 and a beta of 0.99.

Insider Buying and Selling at CMC Metals

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