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

Key Points

• Blue Moon Metals Inc. (CVE:MOON) shares have crossed above their fifty-day moving average of C$3.40, reaching a high of C$3.46 during trading.
• Analysts from Scotiabank have set a price objective of C$5.00 for Blue Moon Metals, giving the stock an "outperform" rating and indicating a consensus target price of C$5.00.
• Insiders have shown strong confidence in the company, purchasing 75,410 shares in total over the last quarter, signaling a belief in the company's growth potential.

Blue Moon Metals Inc. (CVE:MOON - Get Free Report) shares crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$3.40 and traded as high as C$3.46. Blue Moon Metals shares last traded at C$3.42, with a volume of 12,800 shares.

Analyst Ratings Changes

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

Blue Moon Metals Price Performance

The stock's 50-day moving average is C$3.40 and its 200 day moving average is C$2.73. The stock has a market cap of C$216.33 million, a price-to-earnings ratio of -374.42 and a beta of 1.76.

Insider Buying and Selling

In related news, Director Karin Sigrid Thorburn purchased 7,780 shares of Blue Moon Metals stock in a transaction dated Thursday, July 24th. The stock was bought at an average cost of C$3.50 per share, for a total transaction of C$27,191.10. Also, Director Christian Peter Kargl-Simard purchased 20,000 shares of Blue Moon Metals stock in a transaction dated Monday, July 14th. The shares were bought at an average price of C$3.20 per share, with a total value of C$63,958.00. Over the last quarter, insiders have bought 75,410 shares of company stock valued at $249,817. 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.

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.