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

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

Wall Street Analysts Forecast Growth

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

CMC Metals Price 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 stock’s fifty day simple moving average is C$0.02 and its 200-day simple moving average is 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.

Insider Activity at CMC Metals

In related news, Director Kevin John Brewer purchased 2,500,000 shares of CMC Metals stock in a transaction on Thursday, November 21st. The stock was purchased at an average cost of C$0.03 per share, with a total value of C$62,500.00. 5.86% of the stock is 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.