Central Asia Metals (LON:CAML) Shares Pass Below 200 Day Moving Average – Here’s Why

Central Asia Metals plc (LON:CAML) shares crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 172.69 and traded as low as GBX 129.40. Central Asia Metals shares last traded at GBX 129.40, with a volume of 12,615,812 shares trading hands.

Analyst Ratings Changes

CAML has been the topic of several analyst reports. Canaccord Genuity Group dropped their price objective on Central Asia Metals from GBX 165 to GBX 160 and set a “hold” rating on the stock in a report on Friday, April 17th. Berenberg Bank reissued a “buy” rating and set a GBX 190 price target on shares of Central Asia Metals in a research report on Thursday, June 18th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of GBX 188.75.

Central Asia Metals Stock Performance

The company has a 50-day moving average of GBX 143.05 and a 200-day moving average of GBX 172.69. The firm has a market capitalization of £232.49 million, a price-to-earnings ratio of -3.21 and a beta of 1.18. The company has a current ratio of 2.92, a quick ratio of 1.97 and a debt-to-equity ratio of 0.76.

Insiders Place Their Bets

In other Central Asia Metals news, insider Alison Baker bought 7,545 shares of the company’s stock in a transaction on Monday, June 8th. The shares were bought at an average cost of GBX 133 per share, with a total value of £10,034.85. 8.57% of the stock is currently owned by insiders.

About Central Asia Metals

Central Asia Metals (CAML) is a base metals producer quoted on the AIM market of the London Stock Exchange with copper operations in Kazakhstan, and a zinc and lead mine in North Macedonia

CAML is based in London and owns 100% of the Kounrad solvent extraction and electrowinning (SX-EW) copper facility in central Kazakhstan and 100% of the Sasa zinc and lead mine in North Macedonia. It is an established low-cost, diversified base-metals producer, with capacity to generate annual copper production of up to 14,000 tonnes, zinc production of up to 21,000 tonnes and lead production of up to 29,000 tonnes.

CAML was incorporated in the United Kingdom and raised $60 million at IPO in September 2010, which was used to build the Kounrad recovery plant in central Kazakhstan.