Galway Metals (CVE:GWM) Hits New 12-Month High – Time to Buy?

Galway Metals Inc. (CVE:GWM) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$1.07 and last traded at C$1.03, with a volume of 2724487 shares changing hands. The stock had previously closed at C$0.89.

Galway Metals Stock Up 20.2%

The company has a 50 day moving average of C$0.58 and a two-hundred day moving average of C$0.59. The firm has a market cap of C$145.39 million, a P/E ratio of -11.89 and a beta of 2.98.

Insider Activity

In other Galway Metals news, Director Robert Hinchcliffe bought 80,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was acquired at an average cost of C$0.59 per share, with a total value of C$47,200.00. Following the completion of the purchase, the director directly owned 8,982,746 shares in the company, valued at approximately C$5,299,820.14. This trade represents a 0.90% increase in their ownership of the stock. Over the last 90 days, insiders have purchased 520,000 shares of company stock valued at $297,000. Insiders own 11.32% of the company’s stock.

About Galway Metals

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.