CMC Metals (CVE:CMB) Trading Down 20% – Time to Sell?

CMC Metals Ltd. (CVE:CMB) traded down 20% during mid-day trading on Wednesday . The stock traded as low as C$0.02 and last traded at C$0.02. 440,732 shares traded hands during mid-day trading, an increase of 227% from the average session volume of 134,677 shares. The stock had previously closed at C$0.03.

Wall Street Analysts Forecast Growth

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

CMC Metals Trading Up 25.0 %

The stock has a fifty day simple moving average of C$0.02 and a 200 day simple moving average 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 firm has a market cap of C$3.94 million, a P/E ratio of -2.50 and a beta of 0.99.

Insider Buying and Selling

In related news, Director Kevin John Brewer bought 2,500,000 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was acquired at an average price of C$0.03 per share, with a total value of C$62,500.00. 5.86% of the stock is owned by corporate 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.