Fireweed Metals (CVE:FWZ) Stock Falls 1% – Time to Sell?

Fireweed Metals Corp. (CVE:FWZ)’s share price fell 1% on Friday. The stock traded as low as C$3.06 and last traded at C$3.07. 111,193 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 323,071 shares. The stock had previously closed at C$3.10.

Analysts Set New Price Targets

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

Fireweed Metals Price Performance

The business has a 50 day simple moving average of C$3.27 and a 200 day simple moving average of C$3.75. The company has a market capitalization of C$697.14 million, a price-to-earnings ratio of -14.62 and a beta of 1.96.

Insider Transactions at Fireweed Metals

In related news, insider Larry Childress bought 107,000 shares of the stock in a transaction dated Monday, August 10th. The stock was acquired at an average price of C$3.43 per share, for a total transaction of C$367,010.00. Following the acquisition, the insider owned 23,930,026 shares in the company, valued at approximately C$82,079,989.18. This represents a 0.45% increase in their position. Insiders purchased 287,000 shares of company stock valued at $966,410 over the last three months. Corporate 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.