Blackrock Silver (CVE:BRC) Trading Down 17.2% - What's Next?

Key Points

• Blackrock Silver Corp. shares dropped 17.2% on a recent trading day, with a closing price of C$0.72 after reaching as low as C$0.68.
• Insider Eric Sprott increased his stake in the company by acquiring 781,704 shares at an average price of C$0.68, valuing his total shares at approximately C$32.7 million.
• The company's market cap is approximately C$250.63 million and it has a price-to-earnings ratio of -9.63, indicating a loss situation for shareholders.

Shares of Blackrock Silver Corp. (CVE:BRC - ) dropped 17.2% 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 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 stock has a fifty day moving average of C$0.70 and a two-hundred day moving average of C$0.50. The stock has a market cap of C$250.63 million, a price-to-earnings ratio of -9.63 and a beta of 2.31. The company has a quick ratio of 3.14, a current ratio of 8.57 and a debt-to-equity ratio of 0.45.

Insiders Place Their Bets

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

Blackrock Silver Company Profile

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.

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