Fireweed Metals (CVE:FWZ) Reaches New 12-Month Low – Time to Sell?

Fireweed Metals Corp. (CVE:FWZ) shares hit a new 52-week low on Friday. The stock traded as low as C$2.30 and last traded at C$2.30, with a volume of 151,370 shares traded. The stock had previously closed at C$2.43.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group raised shares of Fireweed Metals to a “hold” rating in a research note on Wednesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of C$5.25.

Fireweed Metals Stock Down 5.8%

The company has a 50 day simple moving average of C$3.04 and a two-hundred day simple moving average of C$3.60. The company has a market capitalization of C$520.02 million, a P/E ratio of -10.90 and a beta of 1.99.

Insider Activity at Fireweed Metals

In related news, insider Larry Childress bought 331,000 shares of the company’s stock in a transaction dated Thursday, October 8th. The stock was purchased at an average price of C$2.84 per share, for a total transaction of C$940,040.00. Following the acquisition, the insider owned 24,388,526 shares in the company, valued at C$69,263,413.84. This trade represents a 1.38% increase in their ownership of the stock. In the last three months, insiders purchased 618,000 shares of company stock valued at $1,906,450. 33.68% of the stock is currently owned by insiders.

About Fireweed Metals

Fireweed Metals Corp. engages in the acquisition and exploration of mineral assets in Canada. It explores for zinc, lead, and silver, as well as gallium and germanium deposits. The company owns an interest in the Macmillan Pass project located in Yukon, Canada; and the Gayna River project situated in Northwest Territories, Canada. It also has an option to acquire 100% interest in the Mactung Tungsten project that covers an area of 37.6 square kilometers located in Yukon and Northwest Territories, Canada.