Galway Metals (CVE:GWM) Trading Down 10.5% – Time to Sell?

Galway Metals Inc. (CVE:GWM) traded down 10.5% on Friday . The company traded as low as C$0.68 and last traded at C$0.68. 1,317,911 shares were traded during trading, an increase of 151% from the average session volume of 525,024 shares. The stock had previously closed at C$0.76.

Galway Metals Stock Performance

The company has a fifty day simple moving average of C$0.54 and a two-hundred day simple moving average of C$0.59. The firm has a market capitalization of C$90.90 million, a PE ratio of -7.67 and a beta of 2.78.

Insiders Place Their Bets

In other Galway Metals news, Director Robert Hinchcliffe acquired 45,000 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was bought at an average cost of C$0.63 per share, with a total value of C$28,350.00. Following the completion of the purchase, the director directly owned 9,067,746 shares in the company, valued at C$5,712,679.98. The trade was a 0.50% increase in their ownership of the stock. Insiders have bought 465,000 shares of company stock valued at $261,380 over the last ninety days. 11.32% of the stock is owned by corporate insiders.

About Galway Metals

Galway Metals Inc engages in the acquisition, exploration, and development of mineral resource properties in Canada. The company primarily explores for gold, zinc, copper, silver, and lead deposits. It holds a 100% interest in the Clarence Stream project located in southwest New Brunswick, Canada; and Estrades mine, related Newiska concessions, and adjacent Casa Berardi claims located in western Quebec, Canada. Galway Metals Inc was incorporated in 2012 and is headquartered in Toronto, Canada.