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

CMC Metals Ltd. (CVE:CMB)’s stock price was up 25% during trading on Tuesday . The stock traded as high as C$0.03 and last traded at C$0.03. Approximately 561,000 shares were traded during mid-day trading, an increase of 156% from the average daily volume of 219,143 shares. The stock had previously closed at C$0.02.

Wall Street Analyst Weigh In

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

CMC Metals Trading Up 25.0 %

The business has a 50 day simple moving average of C$0.02 and a 200-day simple moving average of C$0.02. The stock has a market capitalization of C$3.94 million, a price-to-earnings ratio of -2.50 and a beta of 0.99. The company has a debt-to-equity ratio of 8.84, a current ratio of 2.50 and a quick ratio of 2.80.

Insider Activity

In other news, Director Kevin John Brewer acquired 2,500,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was acquired at an average cost of C$0.03 per share, for a total transaction of C$62,500.00. 5.86% of the stock is currently owned by company 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.