CMC Metals (CVE:CMB) Shares Down 25% – Here’s Why

CMC Metals Ltd. (CVE:CMB)’s stock price dropped 25% during mid-day trading on Monday . The stock traded as low as C$0.02 and last traded at C$0.02. Approximately 124,424 shares traded hands during trading, an increase of 9% from the average daily volume of 114,534 shares. The stock had previously closed at C$0.02.

Wall Street Analyst Weigh In

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

CMC Metals Stock Performance

The company has a market capitalization of C$3.15 million, a P/E ratio of -2.00 and a beta of 0.99. The business has a 50-day moving average of C$0.02 and a 200-day moving average of C$0.02. The company has a debt-to-equity ratio of 8.84, a current ratio of 2.50 and a quick ratio of 2.80.

Insiders Place Their Bets

In other CMC Metals news, Director Kevin John Brewer purchased 2,500,000 shares of the 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. Insiders have acquired a total of 2,565,000 shares of company stock worth $63,800 over the last quarter. Company 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.