Power Metals (CVE:PWM) Shares Down 7.7% – Time to Sell?

Power Metals Corp. (CVE:PWM) shares dropped 7.7% during trading on Thursday . The company traded as low as C$0.60 and last traded at C$0.60. 67,511 shares were traded during mid-day trading, a decline of 63% from the average session volume of 183,533 shares. The stock had previously closed at C$0.65.

Power Metals Stock Down 7.7%

The company has a market capitalization of C$104.71 million, a PE ratio of -60.00 and a beta of -0.05. The firm has a 50-day moving average of C$0.62 and a two-hundred day moving average of C$0.60.

Insider Activity

In related news, insider Winsome Resources Limited sold 20,000,000 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of C$0.13, for a total value of C$2,600,000.00. Following the completion of the transaction, the insider directly owned 214,000 shares in the company, valued at C$27,820. The trade was a 98.94% decrease in their position. In the last ninety days, insiders have sold 20,245,500 shares of company stock valued at $2,714,790. 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.