Blue Moon Metals (CVE:MOON) Stock Passes Above Fifty Day Moving Average - Here's What Happened

Key Points

• Blue Moon Metals Inc. (CVE:MOON) shares have surpassed their 50-day moving average of C$3.35, indicating strong trading momentum, with the stock last priced at C$3.60.
• Analysts at Scotiabank have set a price target of C$5.00 for Blue Moon Metals, assigning an "outperform" rating to the company.
• Insider transactions have been positive, with insiders purchasing a total of 95,410 shares worth approximately C$310,417 over the last 90 days.

Blue Moon Metals Inc. (CVE:MOON - Get Free Report) shares passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$3.35 and traded as high as C$3.63. Blue Moon Metals shares last traded at C$3.60, with a volume of 46,592 shares traded.

Wall Street Analysts Forecast Growth

Separately, Scotiabank set a C$5.00 price target on Blue Moon Metals and gave the stock an "outperform" rating in a research report on Friday, July 18th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, Blue Moon Metals presently has an average rating of "Buy" and an average target price of C$5.00.

Blue Moon Metals Trading Up 0.6%

The stock has a market capitalization of C$215.06 million, a P/E ratio of -372.23 and a beta of 1.76. The company has a 50-day moving average price of C$3.37 and a 200 day moving average price of C$2.62.

Insider Buying and Selling at Blue Moon Metals

In other Blue Moon Metals news, Director Karin Sigrid Thorburn bought 11,800 shares of the company's stock in a transaction that occurred on Wednesday, July 23rd. The shares were purchased at an average cost of C$3.39 per share, for a total transaction of C$40,002.00. Also, Director Christian Peter Kargl-Simard bought 20,000 shares of the company's stock in a transaction that occurred on Monday, July 14th. The shares were acquired at an average price of C$3.20 per share, for a total transaction of C$63,958.00. Over the last 90 days, insiders have purchased 75,410 shares of company stock worth $249,817. 29.61% of the stock is owned by company insiders.

About Blue Moon Metals

Blue Moon Metals Inc, an exploration stage company, engages in the exploration and development of mineral resource properties in Canada and the United States. The company primarily explores for zinc, copper, silver, and gold deposits. It primarily holds 100% interests in the Blue Moon zinc property that comprises patented and unpatented lode mineral claims totaling 445 acres in Mariposa County, California; and Yava base metals property, which includes two mineral leases totaling 1,280 hectares located in Nunavut.