Power Metals (CVE:PWM) Stock Price Down 7.7% – Here’s Why

Power Metals Corp. (CVE:PWM) dropped 7.7% on Thursday . The stock traded as low as C$0.60 and last traded at C$0.60. Approximately 67,511 shares were traded during trading, a decline of 63% from the average daily volume of 183,533 shares. The stock had previously closed at C$0.65.

Power Metals Stock Performance

The firm has a market cap of C$109.94 million, a price-to-earnings ratio of -63.00 and a beta of -0.05. The business has a fifty day simple moving average of C$0.63 and a 200-day simple moving average of C$0.60.

Insider Transactions at Power Metals

In other Power Metals news, insider Winsome Resources Limited sold 20,000,000 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of C$0.13, for a total transaction of C$2,600,000.00. Following the sale, the insider directly owned 214,000 shares of the company’s stock, valued at C$27,820. The trade was a 98.94% decrease in their position. In the last three months, insiders have sold 20,245,500 shares of company stock valued at $2,714,790. 1.94% of the stock is owned by company insiders.

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.