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

CMC Metals Ltd. (CVE:CMB) fell 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 117,127 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 company a “buy” rating in a report on Monday, January 6th.

CMC Metals Stock Performance

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

Insiders Place Their Bets

In other news, Director Kevin John Brewer purchased 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 cost of C$0.03 per share, with a total value of C$62,500.00. Insiders bought a total of 2,565,000 shares of company stock valued at $63,800 in the last 90 days. 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.