CMC Metals (CVE:CMB) Trading Down 25% – Here’s Why

CMC Metals Ltd. (CVE:CMB)’s share price dropped 25% during trading on Tuesday . The company 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.

Analysts Set New Price Targets

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

CMC Metals Stock Up 33.3 %

The company has a quick ratio of 2.80, a current ratio of 2.50 and a debt-to-equity ratio of 8.84. The stock has a 50-day simple moving average of C$0.02 and a 200-day simple moving average of C$0.02. The firm has a market capitalization of C$3.15 million, a PE ratio of -2.00 and a beta of 0.99.

Insiders Place Their Bets

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 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 valued at $63,800 over the last ninety days. 5.86% of the stock is currently 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.