Blue Moon Metals (CVE:MOON) Share Price Passes Below 50-Day Moving Average – Time to Sell?

Blue Moon Metals Inc. (CVE:MOON)’s share price crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$3.43 and traded as low as C$3.20. Blue Moon Metals shares last traded at C$3.30, with a volume of 409,520 shares.

Wall Street Analysts Forecast Growth

Separately, Scotiabank set a C$5.00 target price on shares of Blue Moon Metals and gave the stock an “outperform” rating in a report on Friday, July 18th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Blue Moon Metals currently has a consensus rating of “Buy” and an average price target of C$5.00.

Blue Moon Metals Stock Up 1.2%

The firm’s fifty day moving average price is C$3.43 and its two-hundred day moving average price is C$3.23. The stock has a market capitalization of C$180.26 million, a PE ratio of -11.79 and a beta of 1.84.

Insider Activity at Blue Moon Metals

In other Blue Moon Metals news, Director Christian Peter Kargl-Simard bought 20,000 shares of the business’s stock in a transaction that occurred on Monday, July 14th. The stock was bought at an average cost of C$3.20 per share, for a total transaction of C$63,958.00. Also, Director Karin Sigrid Thorburn bought 11,800 shares of the business’s stock in a transaction that occurred on Wednesday, July 23rd. The shares were acquired at an average price of C$3.39 per share, with a total value of C$40,002.00. Insiders have bought 49,310 shares of company stock valued at $164,660 over the last three months. 29.61% of the stock is owned by corporate insiders.

Blue Moon Metals Company Profile

Blue Moon Metals Inc, an exploration stage company, engages in the exploration and development of mineral resource properties in Canada and the United States. The company primarily explores for zinc, copper, silver, and gold deposits. It primarily holds 100% interests in the Blue Moon zinc property that comprises patented and unpatented lode mineral claims totaling 445 acres in Mariposa County, California; and Yava base metals property, which includes two mineral leases totaling 1,280 hectares located in Nunavut.