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

Shares of CMC Metals Ltd. (CVE:CMB) traded down 20% during mid-day trading on Thursday . The stock traded as low as C$0.02 and last traded at C$0.02. 368,400 shares were traded 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.

Analyst Upgrades and Downgrades

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

CMC Metals Price 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 capitalization of C$3.15 million, a PE ratio of -2.00 and a beta of 0.99. The firm has a 50 day moving average price of C$0.02 and a 200 day moving average price of C$0.02.

Insiders Place Their Bets

In related news, Director Kevin John Brewer acquired 2,500,000 shares of the company’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 quarter, insiders acquired 2,565,000 shares of company stock worth $63,800. Corporate 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.