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

Shares of CMC Metals Ltd. (CVE:CMB) traded down 20% during trading on Thursday . The company traded as low as C$0.02 and last traded at C$0.02. 368,400 shares were traded during trading, an increase of 215% from the average session volume of 117,127 shares. The stock had previously closed at C$0.03.

Wall Street Analysts Forecast Growth

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

CMC Metals Stock Performance

The firm has a market cap of C$3.15 million, a P/E ratio of -2.00 and a beta of 0.99. 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 company’s 50-day moving average is C$0.02 and its two-hundred day moving average is C$0.02.

Insider Activity

In other news, Director Kevin John Brewer acquired 2,500,000 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were purchased at an average cost of C$0.03 per share, with a total value of C$62,500.00. Insiders have purchased 2,565,000 shares of company stock worth $63,800 over the last 90 days. 5.86% of the stock is currently owned by corporate insiders.

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.