Blue Moon Metals (CVE:MOON) Stock Crosses Above 50-Day Moving Average - Here's What Happened

Key Points

• Blue Moon Metals Inc. (CVE:MOON) shares have surpassed their 50-day moving average of C$3.24, trading at C$3.40 with a high of C$3.46.
• Analysts from Scotiabank have set a target price of C$5.00 for the stock, rating it as "outperform."
• Company insiders have recently purchased a total of 95,410 shares valued at approximately C$310,417 in the last 90 days, indicating strong internal confidence in the stock.

Blue Moon Metals Inc. (CVE:MOON - Get Free Report) shares crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$3.24 and traded as high as C$3.46. Blue Moon Metals shares last traded at C$3.40, with a volume of 59,300 shares.

Analyst Ratings Changes

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

Blue Moon Metals Stock Performance

The firm has a market capitalization of C$225.18 million, a price-to-earnings ratio of -389.75 and a beta of 1.76. The company has a fifty day moving average of C$3.26 and a two-hundred day moving average of C$2.35.

Insider Buying and Selling at Blue Moon Metals

In other news, Director Karin Sigrid Thorburn acquired 11,800 shares of the business'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, with a total value of C$40,002.00. Also, Director Christian Peter Kargl-Simard acquired 20,000 shares of the business's stock in a transaction that occurred on Monday, July 14th. The shares were purchased at an average cost of C$3.20 per share, for a total transaction of C$63,958.00. In the last quarter, insiders bought 95,410 shares of company stock worth $310,417. Corporate insiders own 29.61% of the company's stock.

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.