CMC Metals (CVE:CMB) Stock Price Down 20% – Should You Sell?

CMC Metals Ltd. (CVE:CMB) shares traded down 20% during mid-day trading on Thursday . The stock traded as low as C$0.02 and last traded at C$0.02. 368,400 shares changed hands during mid-day trading, an increase of 215% from the average session volume of 117,127 shares. The stock had previously closed at C$0.03.

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 Price Performance

The company has a market cap of C$3.15 million, a P/E ratio of -2.00 and a beta of 0.99. The company’s 50-day moving average is C$0.02 and its two-hundred day 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.

Insiders Place Their Bets

In related news, Director Kevin John Brewer bought 2,500,000 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was acquired at an average price of C$0.03 per share, with a total value of C$62,500.00. In the last quarter, insiders acquired 2,565,000 shares of company stock valued at $63,800. Corporate insiders own 5.86% of the company’s stock.

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.