Galway Metals (CVE:GWM) Hits New 12-Month High – Should You Buy?

Galway Metals Inc. (CVE:GWM) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$1.07 and last traded at C$1.03, with a volume of 2724487 shares trading hands. The stock had previously closed at C$0.89.

Galway Metals Stock Performance

The business has a fifty day simple moving average of C$0.58 and a 200 day simple moving average of C$0.59. The company has a market cap of C$145.39 million, a P/E ratio of -11.89 and a beta of 2.98.

Insider Buying and Selling

In related news, Director Robert Hinchcliffe bought 80,000 shares of the stock in a transaction dated Wednesday, August 19th. The stock was bought at an average cost of C$0.59 per share, with a total value of C$47,200.00. Following the completion of the acquisition, the director owned 8,982,746 shares of the company’s stock, valued at C$5,299,820.14. This trade represents a 0.90% increase in their ownership of the stock. Insiders purchased 520,000 shares of company stock valued at $297,000 in the last three months. Insiders own 11.32% of the company’s stock.

Galway Metals Company Profile

Galway Metals Inc engages in the acquisition, exploration, and development of mineral resource properties in Canada. The company primarily explores for gold, zinc, copper, silver, and lead deposits. It holds a 100% interest in the Clarence Stream project located in southwest New Brunswick, Canada; and Estrades mine, related Newiska concessions, and adjacent Casa Berardi claims located in western Quebec, Canada. Galway Metals Inc was incorporated in 2012 and is headquartered in Toronto, Canada.