CMC Metals (CVE:CMB) Stock Price Down 20% – Should You Sell?

CMC Metals Ltd. (CVE:CMB) dropped 20% during mid-day trading on Thursday . The stock traded as low as C$0.02 and last traded at C$0.02. Approximately 368,400 shares traded hands during trading, an increase of 215% from the average daily volume of 117,127 shares. The stock had previously closed at C$0.03.

Wall Street Analysts Forecast Growth

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

CMC Metals Trading Down 20.0 %

The company has a market capitalization of C$3.15 million, a PE ratio of -2.00 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. The firm’s 50 day moving average is C$0.02 and its 200 day moving average is C$0.02.

Insiders Place Their Bets

In other news, Director Kevin John Brewer bought 2,500,000 shares of CMC Metals stock in a transaction on Thursday, November 21st. The shares were purchased at an average price of C$0.03 per share, for a total transaction of C$62,500.00. In the last ninety days, insiders purchased 2,565,000 shares of company stock worth $63,800. 5.86% of the stock is currently owned by corporate insiders.

CMC Metals Company Profile

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.