Fireweed Metals (CVE:FWZ) Reaches New 1-Year Low – Here’s What Happened

Fireweed Metals Corp. (CVE:FWZ) hit a new 52-week low during trading on Tuesday. The stock traded as low as C$2.50 and last traded at C$2.51, with a volume of 281,509 shares. The stock had previously closed at C$2.58.

Analysts Set New Price Targets

Separately, Jefferies Financial Group raised shares of Fireweed Metals to a “hold” rating in a report on Wednesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of C$5.25.

Fireweed Metals Price Performance

The firm has a market cap of C$569.98 million, a PE ratio of -11.95 and a beta of 1.99. The stock’s fifty day moving average price is C$3.21 and its 200-day moving average price is C$3.62.

Insiders Place Their Bets

In related news, insider Larry Childress purchased 331,000 shares of the company’s stock in a transaction on Thursday, October 8th. The stock was acquired at an average cost of C$2.84 per share, for a total transaction of C$940,040.00. Following the completion of the transaction, the insider directly owned 24,388,526 shares in the company, valued at approximately C$69,263,413.84. The trade was a 1.38% increase in their ownership of the stock. Insiders have bought a total of 618,000 shares of company stock worth $1,906,450 over the last ninety days. Company insiders own 33.68% of the company’s stock.

Fireweed Metals Company Profile

Fireweed Metals Corp. engages in the acquisition and exploration of mineral assets in Canada. It explores for zinc, lead, and silver, as well as gallium and germanium deposits. The company owns an interest in the Macmillan Pass project located in Yukon, Canada; and the Gayna River project situated in Northwest Territories, Canada. It also has an option to acquire 100% interest in the Mactung Tungsten project that covers an area of 37.6 square kilometers located in Yukon and Northwest Territories, Canada.