Blue Moon Metals (CVE:MOON) Shares Cross Above 50-Day Moving Average - What's Next?

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) passed 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.

Wall Street Analyst Weigh In

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

Blue Moon Metals Stock Up 1.4%

The stock's 50 day moving average is C$3.30 and its two-hundred day moving average is C$2.42. The company has a market capitalization of C$228.35 million, a PE ratio of -395.22 and a beta of 1.76.

Insider Transactions at Blue Moon Metals

In other news, Director Christian Peter Kargl-Simard purchased 20,000 shares of the stock in a transaction dated Monday, July 14th. The shares were acquired at an average cost of C$3.20 per share, for a total transaction 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 stock was purchased at an average price of C$3.50 per share, for a total transaction of C$27,191.10. Insiders bought a total of 95,410 shares of company stock worth $310,417 over the last 90 days. Company 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.

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