Arizona Metals (TSE:AMC) Trading 13.9% Higher After Insider Buying Activity

Arizona Metals Corp. (TSE:AMC) shares rose 13.9% during mid-day trading on Monday after an insider bought additional shares in the company. The stock traded as high as C$0.21 and last traded at C$0.21. Approximately 304,707 shares traded hands during mid-day trading, a decline of 28% from the average daily volume of 423,832 shares. The stock had previously closed at C$0.18.

Specifically, Director Duncan Kenneth Middlemiss acquired 525,000 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was purchased at an average price of C$0.19 per share, for a total transaction of C$99,750.00. Following the purchase, the director owned 790,012 shares in the company, valued at approximately C$150,102.28. This represents a 198.10% increase in their position.

Wall Street Analyst Weigh In

Separately, National Bank Financial lowered shares of Arizona Metals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 30th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Arizona Metals currently has a consensus rating of “Hold”.

Arizona Metals Stock Performance

The stock has a market cap of C$28.24 million, a PE ratio of -1.46 and a beta of 0.88. The company’s 50 day simple moving average is C$0.44 and its 200 day simple moving average is C$0.57.

Arizona Metals (TSE:AMC) last posted its quarterly earnings data on Friday, March 27th. The company reported C($0.04) EPS for the quarter.

About Arizona Metals

Arizona Metals Corp is a mineral exploration company. It is engaged in gold and copper deposits. The firm’s projects are the Kay mine project and the Sugarloaf peak gold project.