Founders Metals (CVE:FDR) Stock Falls 8% – Should You Sell?

Shares of Founders Metals Inc. (CVE:FDR) were down 8% during trading on Wednesday. The company traded as low as C$7.55 and last traded at C$7.55. Approximately 173,132 shares changed hands during mid-day trading, a decline of 23% from the average session volume of 226,212 shares. The stock had previously closed at C$8.21.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets boosted their price objective on Founders Metals from C$8.00 to C$9.00 in a research note on Wednesday, September 23rd. One equities research analyst has rated the stock with a Buy rating. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of C$9.00.

Founders Metals Stock Performance

The company has a market cap of C$1.11 billion, a P/E ratio of -69.91 and a beta of 2.08. The business has a fifty day simple moving average of C$6.53 and a 200 day simple moving average of C$5.21.

Insider Buying and Selling at Founders Metals

In other Founders Metals news, Director Vijay Kirpalani acquired 25,000 shares of Founders Metals stock in a transaction dated Wednesday, September 16th. The stock was acquired at an average cost of C$4.02 per share, for a total transaction of C$100,500.00. Following the completion of the transaction, the director owned 760,000 shares in the company, valued at approximately C$3,055,200. This represents a 3.40% increase in their position.