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

CMC Metals Ltd. (CVE:CMB) traded down 20% 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.

Wall Street Analysts Forecast Growth

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

CMC Metals Trading Down 20.0 %

The firm has a market capitalization of C$3.15 million, a price-to-earnings ratio of -2.00 and a beta of 0.99. The company has a fifty day moving average price of C$0.02 and a 200-day moving average price of C$0.02. The company has a current ratio of 2.50, a quick ratio of 2.80 and a debt-to-equity ratio of 8.84.

Insider Transactions at CMC Metals

In other news, Director Kevin John Brewer acquired 2,500,000 shares of CMC Metals stock in a transaction dated Thursday, November 21st. The stock was acquired at an average cost of C$0.03 per share, for a total transaction of C$62,500.00. Insiders have acquired a total of 2,565,000 shares of company stock worth $63,800 in the last 90 days. 5.86% of the stock is owned by 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.