CMC Metals (CVE:CMB) Shares Down 25% – Here’s Why

CMC Metals Ltd. (CVE:CMB) shares were down 25% during trading on Monday . The stock traded as low as C$0.02 and last traded at C$0.02. Approximately 124,424 shares traded hands during mid-day trading, an increase of 9% from the average daily volume of 114,534 shares. The stock had previously closed at C$0.02.

Analysts Set New Price Targets

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

CMC Metals Stock Performance

The stock’s 50-day simple moving average is C$0.02 and its 200 day simple moving average is C$0.02. 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 quick ratio of 2.80, a current ratio of 2.50 and a debt-to-equity ratio of 8.84.

Insider Activity at CMC Metals

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