CMC Metals (CVE:CMB) Trading Down 20% – Time to Sell?

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

Analysts Set New Price Targets

Separately, Fundamental Research set a C$0.12 price objective on shares of 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 debt-to-equity ratio of 8.84, a quick ratio of 2.80 and a current ratio of 2.50. The stock’s fifty day moving average is C$0.02 and its 200 day moving average is C$0.02. The stock has a market cap of C$3.15 million, a P/E ratio of -2.00 and a beta of 0.99.

Insider Activity at CMC Metals

In other news, Director Kevin John Brewer bought 2,500,000 shares of the stock in a transaction on Thursday, November 21st. The stock was bought at an average cost of C$0.03 per share, for a total transaction of C$62,500.00. In the last quarter, insiders acquired 2,565,000 shares of company stock valued at $63,800. Insiders own 5.86% of the company’s stock.

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.