Arizona Metals (TSE:AMC) Trading 13.9% Higher After Insider Buying Activity

Arizona Metals Corp. (TSE:AMC) rose 13.9% on Monday after an insider bought additional shares in the company. The company traded as high as C$0.21 and last traded at C$0.21. Approximately 304,707 shares were traded during trading, a decline of 28% from the average daily volume of 423,832 shares. The stock had previously closed at C$0.18.

Specifically, Director Duncan Kenneth Middlemiss purchased 525,000 shares of the business’s stock in a transaction dated Tuesday, May 19th. The shares were purchased at an average cost of C$0.19 per share, with a total value of C$99,750.00. Following the completion of the purchase, the director owned 790,012 shares of the company’s stock, valued at C$150,102.28. This trade represents a 198.10% increase in their position.

Analyst Upgrades and Downgrades

Separately, National Bank Financial cut shares of Arizona Metals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 30th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold”.

Arizona Metals Price Performance

The firm’s fifty day moving average price is C$0.44 and its two-hundred day moving average price is C$0.57. The stock has a market cap of C$28.24 million, a price-to-earnings ratio of -1.46 and a beta of 0.88.

Arizona Metals (TSE:AMC) last announced its quarterly earnings data on Friday, March 27th. The company reported C($0.04) earnings per share for the quarter.

About Arizona Metals

Arizona Metals Corp is a mineral exploration company. It is engaged in gold and copper deposits. The firm’s projects are the Kay mine project and the Sugarloaf peak gold project.