Galway Metals (CVE:GWM) Trading 30.3% Higher – Time to Buy?

Shares of Galway Metals Inc. (CVE:GWM) shot up 30.3% on Tuesday . The company traded as high as C$0.89 and last traded at C$0.86. 2,880,243 shares traded hands during mid-day trading, an increase of 464% from the average session volume of 510,737 shares. The stock had previously closed at C$0.66.

Galway Metals Trading Up 36.4%

The company has a market capitalization of C$122.29 million, a PE ratio of -10.00 and a beta of 2.98. The firm’s 50-day simple moving average is C$0.57 and its 200-day simple moving average is C$0.59.

Insider Buying and Selling at Galway Metals

In related news, Director Robert Hinchcliffe acquired 45,000 shares of the stock in a transaction dated Monday, August 24th. The stock was acquired at an average cost of C$0.63 per share, for a total transaction of C$28,350.00. Following the completion of the purchase, the director owned 9,067,746 shares of the company’s stock, valued at approximately C$5,712,679.98. This represents a 0.50% increase in their position. Insiders bought a total of 520,000 shares of company stock worth $297,000 in the last 90 days. 11.32% of the stock is currently owned by insiders.

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.