Power Metals (CVE:PWM) Stock Price Down 7.7% – Time to Sell?

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

Power Metals Stock Performance

The company has a 50 day simple moving average of C$0.62 and a two-hundred day simple moving average of C$0.60. The firm has a market cap of C$104.71 million, a PE ratio of -60.00 and a beta of -0.05.

Insider Buying and Selling

In related news, insider Winsome Resources Limited sold 102,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of C$0.46, for a total value of C$46,920.00. Following the sale, the insider owned 51,000 shares in the company, valued at C$23,460. This represents a 66.67% decrease in their ownership of the stock. Insiders sold a total of 20,245,500 shares of company stock valued at $2,714,790 in the last 90 days. 1.94% of the stock is owned by corporate 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.