CMC Metals (CVE:CMB) Trading Down 25% – What’s Next?

Shares of CMC Metals Ltd. (CVE:CMB) dropped 25% during trading on Monday . The company traded as low as C$0.02 and last traded at C$0.02. Approximately 120,500 shares changed hands during mid-day trading, an increase of 6% from the average daily volume of 113,344 shares. The stock had previously closed at C$0.02.

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 report on Monday, January 6th.

CMC Metals Stock Performance

The company has a 50 day simple moving average of C$0.02 and a 200-day simple 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. The stock has a market cap of C$3.15 million, a P/E ratio of -2.00 and a beta of 0.99.

Insider Buying and Selling

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 cost of C$0.03 per share, with a total value of C$62,500.00. Insiders bought 2,565,000 shares of company stock worth $63,800 in the last quarter. 5.86% of the stock is owned by 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.