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

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

Wall Street Analyst Weigh In

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

CMC Metals Price Performance

The business has a fifty day moving average price of C$0.02 and a 200 day moving average price of C$0.02. 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 market cap of C$3.15 million, a price-to-earnings ratio of -2.00 and a beta of 0.99.

Insider Activity 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 purchased at an average price of C$0.03 per share, for a total transaction of C$62,500.00. Insiders purchased 2,565,000 shares of company stock worth $63,800 over the last three months. 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.