Jefferies Financial Group Upgrades Fireweed Metals (CVE:FWZ) to “Hold”

Fireweed Metals (CVE:FWZ) was upgraded by equities research analysts at Jefferies Financial Group to a “hold” rating in a note issued to investors on Wednesday, Zacks reports.

Fireweed Metals Trading Down 1.5%

Shares of CVE:FWZ opened at C$3.39 on Wednesday. Fireweed Metals has a 52 week low of C$2.50 and a 52 week high of C$5.15. The company’s 50 day moving average is C$3.26 and its two-hundred day moving average is C$3.83. The company has a market cap of C$769.81 million, a PE ratio of -16.14 and a beta of 1.96.

Insider Buying and Selling

In related news, insider Larry Childress acquired 107,000 shares of Fireweed Metals 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 transaction, the insider owned 23,930,026 shares of the company’s stock, valued at C$82,079,989.18. This represents a 0.45% increase in their ownership of the stock. Insiders have purchased 287,000 shares of company stock valued at $966,410 in the last 90 days. 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.