Calibre Mining (TSE:CXB) Trading Down 6.1% – Here’s What Happened

Calibre Mining Corp. (TSE:CXB)’s stock price dropped 6.1% during mid-day trading on Friday . The company traded as low as C$2.55 and last traded at C$2.62. Approximately 977,810 shares were traded during trading, a decline of 63% from the average daily volume of 2,669,489 shares. The stock had previously closed at C$2.79.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CXB shares. Scotiabank upped their target price on shares of Calibre Mining from C$2.75 to C$3.00 in a research note on Monday, August 19th. Jefferies Financial Group raised their price target on Calibre Mining from C$2.75 to C$3.50 in a research note on Friday, October 4th. Cormark upped their price objective on Calibre Mining from C$3.00 to C$3.15 in a research report on Monday, September 9th. National Bank Financial raised Calibre Mining from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 9th. Finally, National Bankshares upgraded shares of Calibre Mining from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from C$2.85 to C$4.00 in a research note on Thursday, October 10th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of C$3.12.

Calibre Mining Trading Down 5.4 %

The stock has a 50-day moving average price of C$2.45 and a two-hundred day moving average price of C$2.14. The stock has a market capitalization of C$2.08 billion, a PE ratio of 18.64 and a beta of 2.08. The company has a debt-to-equity ratio of 39.77, a quick ratio of 0.97 and a current ratio of 2.33.

Calibre Mining (TSE:CXB) last posted its quarterly earnings results on Monday, August 12th. The company reported C$0.04 earnings per share for the quarter, hitting analysts’ consensus estimates of C$0.04. The business had revenue of C$187.89 million during the quarter. Calibre Mining had a net margin of 9.30% and a return on equity of 7.54%. As a group, equities analysts forecast that Calibre Mining Corp. will post 0.3914328 earnings per share for the current year.

Insider Buying and Selling

In related news, Senior Officer Kevin James Riley sold 15,000 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of C$2.56, for a total transaction of C$38,385.00. In other news, Senior Officer Marco Dacosta Galego sold 184,920 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of C$2.77, for a total value of C$512,228.40. Also, Senior Officer Kevin James Riley sold 15,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of C$2.56, for a total value of C$38,385.00. In the last quarter, insiders bought 14,050 shares of company stock valued at $29,074 and sold 232,721 shares valued at $637,453. 6.32% of the stock is currently owned by insiders.

About Calibre Mining

Calibre Mining Corp., together with its subsidiaries, engages in the exploration, development, and mining of gold properties in Nicaragua, the United States, and Canada. It primarily explores gold, silver, and copper deposits. The company was formerly known as TLC Ventures Corp. and changed its name to Calibre Mining Corp.