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

Shares of CMC Metals Ltd. (CVE:CMB) fell 20% on Wednesday . The company traded as low as C$0.02 and last traded at C$0.02. 440,732 shares were traded during trading, an increase of 176% from the average session 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 price objective on CMC Metals and gave the company a “buy” rating in a research note on Monday, January 6th.

CMC Metals Price Performance

The company has a fifty day simple moving average of C$0.02 and a 200 day simple moving average of C$0.02. The stock has a market capitalization of C$3.94 million, a price-to-earnings ratio of -2.50 and a beta of 0.99. The company has a debt-to-equity ratio of 8.84, a quick ratio of 2.80 and a current ratio of 2.50.

Insider Buying and Selling at CMC Metals

In other news, Director Kevin John Brewer bought 2,500,000 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were acquired at an average price of C$0.03 per share, for a total transaction of C$62,500.00. 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.