Fireweed Metals (CVE:FWZ) Insider Buys C$940,040.00 in Stock

Key Points

• Insider Larry Childress bought 331,000 Fireweed Metals shares at an average C$2.84 per share, investing C$940,040 and increasing his ownership by 1.38% to 24.39 million shares.
• Fireweed shares traded at C$2.86, near the lower end of their 52-week range of C$2.50 to C$5.15. The stock remains below its 50-day and 200-day moving averages of C$3.28 and C$3.68, respectively.
• Analyst sentiment is generally positive, with a consensus “Buy” rating and a C$5.25 price target; the company explores zinc, lead, silver, gallium, germanium, and tungsten projects in Canada.

Fireweed Metals Corp. (CVE:FWZ - Get Free Report) insider Larry Childress bought 331,000 shares of Fireweed Metals stock in a transaction dated Thursday, October 8th. The shares were bought at an average cost of C$2.84 per share, with a total value of C$940,040.00. Following the completion of the transaction, the insider directly owned 24,388,526 shares in the company, valued at approximately C$69,263,413.84. This trade represents a 1.38% increase in their ownership of the stock.

Larry Childress also recently made the following trade(s):

• On Monday, August 10th, Larry Childress acquired 107,000 shares of Fireweed Metals stock. The stock was purchased at an average price of C$3.43 per share, for a total transaction of C$367,010.00.
• On Tuesday, August 11th, Larry Childress acquired 80,000 shares of Fireweed Metals stock. The shares were purchased at an average cost of C$3.43 per share, with a total value of C$274,400.00.
• On Wednesday, August 5th, Larry Childress bought 100,000 shares of Fireweed Metals stock. The stock was purchased at an average cost of C$3.25 per share, with a total value of C$325,000.00.

Fireweed Metals Price Performance

Shares of FWZ traded up C$0.05 during mid-day trading on Friday, hitting C$2.86. The stock had a trading volume of 119,232 shares, compared to its average volume of 318,385. Fireweed Metals Corp. has a 52 week low of C$2.50 and a 52 week high of C$5.15. The business has a fifty day moving average price of C$3.28 and a 200-day moving average price of C$3.68. The firm has a market cap of C$649.46 million, a P/E ratio of -13.62 and a beta of 1.99.

Analysts Set New Price Targets

Separately, Jefferies Financial Group raised shares of Fireweed Metals to a "hold" rating in a report on Wednesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of C$5.25.

About Fireweed Metals

Fireweed Metals Corp. engages in the acquisition and exploration of mineral assets in Canada. It explores for zinc, lead, and silver, as well as gallium and germanium deposits. The company owns an interest in the Macmillan Pass project located in Yukon, Canada; and the Gayna River project situated in Northwest Territories, Canada. It also has an option to acquire 100% interest in the Mactung Tungsten project that covers an area of 37.6 square kilometers located in Yukon and Northwest Territories, Canada.

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