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

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

Analyst Upgrades and Downgrades

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

CMC Metals Price Performance

The stock has a market cap of C$3.15 million, a price-to-earnings ratio of -2.00 and a beta of 0.99. The company has a debt-to-equity ratio of 8.84, a quick ratio of 2.80 and a current ratio of 2.50. The company has a 50-day simple moving average of C$0.02 and a two-hundred day simple moving average of C$0.02.

Insider Buying and Selling

In other news, Director Kevin John Brewer bought 2,500,000 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was acquired at an average cost of C$0.03 per share, for a total transaction of C$62,500.00. Over the last three months, insiders have bought 2,565,000 shares of company stock worth $63,800. Insiders own 5.86% of the company’s stock.

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.