Power Metals (CVE:PWM) Trading 1.8% Higher – Should You Buy?

Power Metals Corp. (CVE:PWM) rose 1.8% during mid-day trading on Wednesday . The company traded as high as C$0.59 and last traded at C$0.58. Approximately 79,256 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 197,194 shares. The stock had previously closed at C$0.57.

Power Metals Trading Down 3.7%

The firm has a market capitalization of C$90.75 million, a price-to-earnings ratio of -52.00 and a beta of 0.17. The stock has a fifty day moving average of C$0.50 and a 200-day moving average of C$0.64.

Insider Activity

In related news, insider Winsome Resources Limited sold 20,000,000 shares of Power Metals stock in a transaction on 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. The trade was a 98.94% decrease in their position. In the last 90 days, insiders sold 20,245,500 shares of company stock valued at $2,714,790. Insiders own 1.94% of the company’s stock.

About Power Metals

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.