Galway Metals (CVE:GWM) Stock Falls 4.1% – What’s Next?

Shares of Galway Metals Inc. (CVE:GWM) traded down 4.1% on Wednesday. The company traded as low as C$0.90 and last traded at C$0.94. Approximately 451,863 shares traded hands during mid-day trading, a decline of 20% from the average daily volume of 568,340 shares. The stock had previously closed at C$0.98.

Galway Metals Trading Down 4.1%

The stock has a market capitalization of C$127.72 million, a P/E ratio of -10.44 and a beta of 2.28. The company’s 50-day moving average is C$0.76 and its two-hundred day moving average is C$0.64.

Insider Activity

In other Galway Metals news, Director Robert Hinchcliffe acquired 80,000 shares of Galway Metals stock in a transaction dated Wednesday, August 19th. The stock was acquired at an average cost of C$0.59 per share, for a total transaction of C$47,200.00. Following the completion of the transaction, the director owned 8,982,746 shares in the company, valued at approximately C$5,299,820.14. This represents a 0.90% increase in their position. Insiders purchased 495,000 shares of company stock worth $288,400 in the last three months. Insiders own 11.32% of the company’s stock.

Galway Metals Company Profile

Galway Metals Inc engages in the acquisition, exploration, and development of mineral resource properties in Canada. The company primarily explores for gold, zinc, copper, silver, and lead deposits. It holds a 100% interest in the Clarence Stream project located in southwest New Brunswick, Canada; and Estrades mine, related Newiska concessions, and adjacent Casa Berardi claims located in western Quebec, Canada. Galway Metals Inc was incorporated in 2012 and is headquartered in Toronto, Canada.