Blue Moon Metals (CVE:MOON) Share Price Passes Above Fifty Day Moving Average - What's Next?

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.

Shares of Blue Moon Metals Inc. (CVE:MOON - Get Free Report) 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.

Wall Street Analyst Weigh In

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

Blue Moon Metals Stock Down 4.2%

The company has a fifty day simple moving average of C$3.37 and a 200 day simple moving average of C$2.62. The firm has a market capitalization of C$216.33 million, a P/E ratio of -374.42 and a beta of 1.76.

Insider Buying and Selling at Blue Moon Metals

In related news, Director Christian Peter Kargl-Simard bought 20,000 shares of the company's stock in a transaction on Monday, July 14th. The shares were acquired at an average cost of C$3.20 per share, with a total value of C$63,958.00. Also, Director Karin Sigrid Thorburn purchased 7,780 shares of the stock in a transaction dated Thursday, July 24th. The shares were acquired at an average cost of C$3.50 per share, for a total transaction of C$27,191.10. Insiders acquired 95,410 shares of company stock worth $310,417 over the last three months. Corporate insiders own 29.61% of the company's stock.

Blue Moon Metals Company Profile

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.