Blackrock Silver (CVE:BRC) Trading Down 17.2% - Time to Sell?

Key Points

• Blackrock Silver Corp. shares plummeted by 17.2% during trading, with the stock last trading at C$0.72 after hitting a low of C$0.68.
• Insider Eric Sprott increased his position in the company by purchasing 781,704 shares at an average price of C$0.68, reflecting ongoing confidence despite the stock's decline.
• The company has a market capitalization of C$250.63 million and a high beta of 2.31, indicating significant volatility in its stock price.

Shares of Blackrock Silver Corp. (CVE:BRC - ) were down 17.2% during trading on Wednesday . The company traded as low as C$0.68 and last traded at C$0.72. Approximately 5,068,524 shares were traded during mid-day trading, an increase of 487% from the average daily volume of 862,935 shares. The stock had previously closed at C$0.87.

Blackrock Silver Price Performance

The business's 50 day moving average price is C$0.70 and its 200 day moving average price is C$0.50. The company has a debt-to-equity ratio of 0.45, a current ratio of 8.57 and a quick ratio of 3.14. The stock has a market capitalization of C$250.63 million, a P/E ratio of -9.63 and a beta of 2.31.

Insider Activity at Blackrock Silver

In other Blackrock Silver news, insider Eric Sprott bought 781,704 shares of the business's stock in a transaction that occurred on Thursday, September 11th. The stock was bought at an average cost of C$0.68 per share, for a total transaction of C$531,558.72. Following the completion of the transaction, the insider owned 48,121,923 shares of the company's stock, valued at C$32,722,907.64. This represents a 1.65% increase in their position. Also, insider 2176423 Ontario Ltd. bought 781,704 shares of the business's stock in a transaction that occurred on Thursday, September 11th. The shares were acquired at an average price of C$0.68 per share, with a total value of C$531,558.72. Following the completion of the transaction, the insider directly owned 48,121,923 shares of the company's stock, valued at C$32,722,907.64. This trade represents a 1.65% increase in their position. Insiders have purchased 3,312,808 shares of company stock valued at $2,026,687 over the last 90 days. 17.84% of the stock is currently owned by company insiders.

About Blackrock Silver

Blackrock Silver Corp. engages in the acquisition, exploration, and development of mineral properties in Canada and the United States. It primarily explores for gold and silver deposits. The company's flagship property is the Tonopah West silver-gold project comprising 100 patented and 83 unpatented lode mining claims covering an area of 10.3 square kilometers located in the Walker Lane trend of western Nevada.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.