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

CMC Metals Ltd. (CVE:CMB)’s share price traded down 20% during trading on Wednesday . The company traded as low as C$0.02 and last traded at C$0.02. 368,400 shares changed hands during mid-day trading, an increase of 215% from the average session volume of 117,083 shares. The stock had previously closed at C$0.03.

Analyst Ratings Changes

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 Stock Down 20.0 %

The firm has a market capitalization of C$3.15 million, a P/E ratio of -2.00 and a beta of 0.99. 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 company has a quick ratio of 2.80, a current ratio of 2.50 and a debt-to-equity ratio of 8.84.

Insider Activity at CMC Metals

In related news, Director Kevin John Brewer bought 2,500,000 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was acquired at an average price of C$0.03 per share, with a total value of C$62,500.00. In the last three months, insiders have acquired 2,565,000 shares of company stock valued at $63,800. 5.86% of the stock is owned by corporate 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.