CMC Metals (CVE:CMB) Stock Price Down 20% – What’s Next?

CMC Metals Ltd. (CVE:CMB)’s share price was down 20% during trading on Wednesday . The company traded as low as C$0.02 and last traded at C$0.02. Approximately 368,400 shares traded 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 note on Monday, January 6th.

CMC Metals Trading Down 20.0 %

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

Insider Activity

In other CMC Metals 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 stock was acquired at an average cost of C$0.03 per share, with a total value of C$62,500.00. Over the last quarter, insiders bought 2,565,000 shares of company stock valued at $63,800. 5.86% of the stock is currently owned by company 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.