Blue Moon Metals (CVE:MOON) Stock Price Crosses Above 50 Day Moving Average - Should You Sell?

Key Points

• Blue Moon Metals Inc. shares have recently crossed above their 50-day moving average of C$3.30, trading at C$3.61 with a peak of C$3.66.
• Scotiabank has set a price objective of C$5.00 for the stock and rated it as "outperform" in their latest research note.
• Insider transactions indicate confidence as directors purchased a total of 95,410 shares over the last 90 days, representing an investment of approximately C$310,417.

Blue Moon Metals Inc. (CVE:MOON - Get Free Report)'s share price crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$3.30 and traded as high as C$3.66. Blue Moon Metals shares last traded at C$3.61, with a volume of 8,150 shares traded.

Analyst Ratings Changes

Separately, Scotiabank set a C$5.00 target price on shares of Blue Moon Metals and gave the company an "outperform" rating in a research note on Friday, July 18th.

Blue Moon Metals Price Performance

The firm has a market cap of C$227.71 million, a P/E ratio of -394.13 and a beta of 1.76. The company's 50-day moving average is C$3.32 and its two-hundred day moving average is C$2.50.

Insider Transactions at Blue Moon Metals

In other Blue Moon Metals news, Director Christian Peter Kargl-Simard acquired 20,000 shares of the business's stock in a transaction that occurred on Monday, July 14th. The stock was bought at an average cost of C$3.20 per share, with a total value of C$63,958.00. Also, Director Karin Sigrid Thorburn acquired 7,780 shares of the company's stock in a transaction dated Thursday, July 24th. The shares were bought at an average cost of C$3.50 per share, with a total value of C$27,191.10. Insiders purchased a total of 95,410 shares of company stock worth $310,417 in the last 90 days. 29.61% of the stock is currently owned by company insiders.

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.