CMC Metals (CVE:CMB) Shares Down 25% – Time to Sell?

CMC Metals Ltd. (CVE:CMB) was down 25% during mid-day trading on Tuesday . The stock traded as low as C$0.02 and last traded at C$0.02. Approximately 124,424 shares were traded during trading, an increase of 9% from the average daily volume of 114,534 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 CMC Metals and gave the company a “buy” rating in a research note on Monday, January 6th.

CMC Metals Price 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 stock has a market cap of C$3.15 million, a price-to-earnings ratio of -2.00 and a beta of 0.99. The company has a quick ratio of 2.80, a current ratio of 2.50 and a debt-to-equity ratio of 8.84.

Insider Buying and Selling at CMC Metals

In related news, Director Kevin John Brewer purchased 2,500,000 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were acquired at an average cost of C$0.03 per share, for a total transaction of C$62,500.00. Insiders have bought 2,565,000 shares of company stock worth $63,800 over the last quarter. 5.86% of the stock is owned by corporate 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.