Power Metals (CVE:PWM) Shares Down 1.6% – Here’s What Happened

Power Metals Corp. (CVE:PWM)’s share price dropped 1.6% on Thursday . The stock traded as low as C$0.61 and last traded at C$0.62. 64,640 shares changed hands during trading, a decline of 63% from the average session volume of 176,561 shares. The stock had previously closed at C$0.63.

Power Metals Stock Performance

The company has a market cap of C$109.94 million, a P/E ratio of -63.00 and a beta of -0.06. The firm has a 50 day moving average of C$0.63 and a 200-day moving average of C$0.59. The company has a quick ratio of 1.80, a current ratio of 0.07 and a debt-to-equity ratio of 1.98.

Insider Activity at Power Metals

In related news, insider Winsome Resources Limited sold 102,000 shares of Power Metals stock in a transaction dated 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 completion of the sale, the insider directly owned 51,000 shares in the company, valued at C$23,460. The trade was a 66.67% decrease in their ownership of the stock. Corporate insiders own 1.94% of the company’s stock.

Power Metals Company Profile

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.