Blue Moon Metals (CVE:MOON) Shares Cross Below Fifty Day Moving Average - Time to Sell?

Key Points

• Blue Moon Metals (CVE:MOON) shares fell below the 50-day moving average of C$3.40, trading as low as C$3.23, indicating potential concerns among investors.
• Analysts from Scotiabank set a price objective of C$5.00 for Blue Moon Metals, maintaining an "outperform" rating, suggesting positive future performance expectations.
• Insider purchases indicate confidence, with directors acquiring over 69,000 shares in recent months, demonstrating significant insider ownership at 29.61%.

Blue Moon Metals Inc. (CVE:MOON - Get Free Report) shares crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$3.40 and traded as low as C$3.23. Blue Moon Metals shares last traded at C$3.29, with a volume of 11,328 shares trading hands.

Wall Street Analyst Weigh In

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

Blue Moon Metals Stock Performance

The firm has a market capitalization of C$169.39 million, a price-to-earnings ratio of -11.75 and a beta of 1.84. The company has a fifty day moving average of C$3.40 and a two-hundred day moving average of C$3.03.

Insider Activity at Blue Moon Metals

In other news, Director Christian Peter Kargl-Simard purchased 20,000 shares of the company's stock in a transaction that occurred on Monday, July 14th. The stock was 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 acquired 7,780 shares of the stock in a transaction on Thursday, July 24th. The shares were bought at an average price of C$3.50 per share, for a total transaction of C$27,191.10. Over the last three months, insiders have purchased 69,310 shares of company stock valued at $231,212. 29.61% of the stock is currently owned by 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.

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