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

CMC Metals Ltd. (CVE:CMB)’s stock price dropped 20% on Wednesday . The stock 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 117,083 shares. The stock had previously closed at C$0.03.

Analysts Set New Price Targets

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

CMC Metals Stock Performance

The stock has a market capitalization 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. The firm has a 50-day moving average of C$0.02 and a 200-day moving average of C$0.02.

Insider Activity at CMC Metals

In other CMC Metals news, Director Kevin John Brewer purchased 2,500,000 shares of CMC Metals stock in a transaction on Thursday, November 21st. The stock was bought at an average cost of C$0.03 per share, with a total value of C$62,500.00. Insiders have bought a total of 2,565,000 shares of company stock worth $63,800 over the last quarter. 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.