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

CMC Metals Ltd. (CVE:CMB) shares were down 20% on Monday . The company traded as low as C$0.02 and last traded at C$0.02. Approximately 128,167 shares changed hands during trading, a decline of 3% from the average daily volume of 132,053 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 CMC Metals and gave the company a “buy” rating in a research note on Monday, January 6th.

CMC Metals Trading Down 20.0 %

The stock has a market cap of C$3.15 million, a PE 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. The firm has a 50-day simple moving average of C$0.02 and a 200-day simple moving average of C$0.02.

Insider Buying and Selling

In other news, Director Kevin John Brewer acquired 2,500,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were bought at an average cost of C$0.03 per share, with a total value of C$62,500.00. 5.86% of the stock is owned by company 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.