Blue Moon Metals (CVE:MOON) Stock Price Crosses Below Fifty Day Moving Average - What's Next?

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)'s stock price 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.

Analyst Upgrades and Downgrades

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

Blue Moon Metals Price Performance

The firm's 50-day simple moving average is C$3.41 and its two-hundred day simple moving average is C$3.10. The company has a market capitalization of C$184.63 million, a price-to-earnings ratio of -12.07 and a beta of 1.84.

Insider Activity

In related news, Director Christian Peter Kargl-Simard bought 20,000 shares of the stock in a transaction on Monday, July 14th. The shares were bought at an average cost of C$3.20 per share, for a total transaction of C$63,958.00. Also, Director Karin Sigrid Thorburn bought 11,800 shares of the stock in a transaction on Wednesday, July 23rd. The shares were bought at an average price of C$3.39 per share, for a total transaction of C$40,002.00. Insiders have acquired 69,310 shares of company stock worth $231,212 over the last 90 days. 29.61% of the stock is currently 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.