Blue Moon Metals (CVE:MOON) Stock Crosses Above 200 Day Moving Average - Should You Sell?

Key Points

• Blue Moon Metals Inc. stock has recently crossed above its 200-day moving average of C$3.29, reaching a high of C$3.91 during trading.
• Scotiabank has set a price objective of C$5.00 on Blue Moon Metals shares, which currently have a consensus rating of "Buy."
• Insider trading activity shows that company insiders have acquired a total of 29,310 shares valued at C$100,702 in the last 90 days.

Blue Moon Metals Inc. (CVE:MOON - Get Free Report)'s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$3.29 and traded as high as C$3.91. Blue Moon Metals shares last traded at C$3.84, with a volume of 182,263 shares changing hands.

Analyst Ratings Changes

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

Blue Moon Metals Stock Performance

The company has a market cap of C$310.44 million, a PE ratio of -13.71 and a beta of 1.33. The business's 50-day moving average is C$3.44 and its 200 day moving average is C$3.29.

Insider Buying and Selling

In other Blue Moon Metals news, Director Karin Sigrid Thorburn bought 11,800 shares of the firm's stock in a transaction that occurred 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. In the last 90 days, insiders have acquired 29,310 shares of company stock valued at $100,702. 29.61% of the stock is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.