CMC Metals (CVE:CMB) Shares Down 20% – What’s Next?

CMC Metals Ltd. (CVE:CMB) shares traded down 20% during trading on Wednesday . The stock traded as low as C$0.02 and last traded at C$0.02. 440,732 shares changed hands during trading, an increase of 227% from the average session volume of 134,677 shares. The stock had previously closed at C$0.03.

Wall Street Analysts Forecast Growth

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

CMC Metals Stock Up 25.0 %

The company has a market cap of C$3.94 million, a price-to-earnings ratio of -2.50 and a beta of 0.99. The business has a 50-day simple moving average of C$0.02 and a two-hundred day simple moving average of C$0.02. The company has a quick ratio of 2.80, a current ratio of 2.50 and a debt-to-equity ratio of 8.84.

Insider Buying and Selling

In other news, Director Kevin John Brewer bought 2,500,000 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were acquired at an average cost of C$0.03 per share, for a total transaction of C$62,500.00. Corporate 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.