CMC Metals (CVE:CMB) Trading Down 20% – Here’s What Happened

Shares of CMC Metals Ltd. (CVE:CMB) were down 20% during mid-day trading on Wednesday . The company traded as low as C$0.02 and last traded at C$0.02. Approximately 440,732 shares were traded during trading, an increase of 176% from the average daily volume of 159,677 shares. The stock had previously closed at C$0.03.

Analysts Set New Price Targets

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

CMC Metals Stock Performance

The stock’s 50 day moving average price is C$0.02 and its two-hundred day moving average price is 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. The firm has a market capitalization of C$3.94 million, a price-to-earnings ratio of -2.50 and a beta of 0.99.

Insider Buying and Selling at CMC Metals

In other news, Director Kevin John Brewer bought 2,500,000 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were bought at an average cost of C$0.03 per share, for a total transaction of C$62,500.00. 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.