Power Metals (CVE:PWM) Stock Price Down 1.4% – Here’s Why

Power Metals Corp. (CVE:PWM) shares dropped 1.4% on Thursday . The stock traded as low as C$0.68 and last traded at C$0.68. 37,975 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 191,362 shares. The stock had previously closed at C$0.69.

Power Metals Price Performance

The stock has a fifty day moving average of C$0.56 and a two-hundred day moving average of C$0.62. The stock has a market cap of C$118.67 million, a price-to-earnings ratio of -68.00 and a beta of 0.17.

Insider Activity at Power Metals

In other news, insider Winsome Resources Limited sold 20,000,000 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of C$0.13, for a total value of C$2,600,000.00. Following the transaction, the insider directly owned 214,000 shares in the company, valued at C$27,820. This trade represents a 98.94% decrease in their position. In the last quarter, insiders sold 20,245,500 shares of company stock valued at $2,714,790. Company insiders own 1.94% of the company’s stock.

Power Metals Company Profile

Power Metals Corp., an exploration company, engages in the acquisition, exploration, and evaluation of resource properties in Canada. The company primarily explores for lithium, cesium, and tantalum metal deposits. It holds a 100% interest in the Case Lake property that consists of 475 cell claims located in Ontario. The company also has an option agreement to acquire 100% interests in the Paterson Lake property consisting of 106 cell claims located in northwestern Ontario; and holds Gullwing-Tot Lake property that consists of 112 cell claims located in northwestern Ontario.