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

CMC Metals Ltd. (CVE:CMB)’s stock price dropped 20% during trading on Thursday . The stock traded as low as C$0.02 and last traded at C$0.02. Approximately 440,732 shares were traded during mid-day trading, an increase of 176% from the average daily volume of 159,677 shares. The stock had previously closed at C$0.03.

Analyst Ratings Changes

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

CMC Metals Stock Performance

The company has a current ratio of 2.50, a quick ratio of 2.80 and a debt-to-equity ratio of 8.84. 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 has a 50 day moving average price of C$0.02 and a 200-day moving average price of C$0.02.

Insider Activity at CMC Metals

In related news, Director Kevin John Brewer bought 2,500,000 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was purchased at an average price of C$0.03 per share, with a total value of C$62,500.00. 5.86% of the stock is currently owned by 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.