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

Shares of CMC Metals Ltd. (CVE:CMB) dropped 20% during mid-day trading on Thursday . The company traded as low as C$0.02 and last traded at C$0.02. Approximately 440,732 shares were traded during trading, an increase of 176% from the average daily volume of 159,677 shares. The stock had previously closed at C$0.03.

Wall Street Analyst Weigh In

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

CMC Metals Stock Down 20.0 %

The company has a current ratio of 2.50, a quick ratio of 2.80 and a debt-to-equity ratio of 8.84. The firm has a 50 day moving average price of C$0.02 and a 200-day moving average price of C$0.02. The firm has a market cap of C$3.15 million, a price-to-earnings ratio of -2.00 and a beta of 0.99.

Insider Buying and Selling at CMC Metals

In related news, Director Kevin John Brewer bought 2,500,000 shares of the 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. 5.86% of the stock is currently owned by 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.