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

CMC Metals Ltd. (CVE:CMB)’s share price fell 20% during trading on Wednesday . The company traded as low as C$0.02 and last traded at C$0.02. 440,732 shares were traded during mid-day 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 Analyst Weigh In

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

CMC Metals Stock Performance

The stock’s 50-day moving average price is C$0.02 and its 200 day moving average price is C$0.02. The firm has a market cap of C$3.94 million, a P/E ratio of -2.50 and a beta of 0.99. 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 Transactions at CMC Metals

In related news, Director Kevin John Brewer acquired 2,500,000 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were bought at an average price of C$0.03 per share, for a total transaction of C$62,500.00. Company 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.