Talon Metals (TSE:TLO) Stock Crosses Below 200 Day Moving Average - Here's Why

Key Points

• Talon Metals shares fell below their 200-day moving average of C$6.70, reaching C$5.04 and closing at C$5.05 amid trading volume of 263,952 shares.
• Despite the technical weakness, analysts maintain a consensus “Buy” rating, with an average price target of C$6.50; National Bank Financial assigned an “outperform” rating and an C$8.00 target.
• Insiders have been selling shares: company directors sold 280,342 shares worth approximately C$1.77 million over the past 90 days, while insiders retain an 18.55% ownership stake.

Talon Metals Corp. (TSE:TLO - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$6.70 and traded as low as C$5.04. Talon Metals shares last traded at C$5.05, with a volume of 263,952 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, National Bank Financial set a C$8.00 price target on Talon Metals and gave the stock an "outperform" rating in a report on Tuesday, July 14th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of C$6.50.

Talon Metals Stock Performance

The company has a market capitalization of C$813.24 million, a PE ratio of -305.95 and a beta of 2.31. The company has a current ratio of 2.81, a quick ratio of 5.62 and a debt-to-equity ratio of 0.08. The firm's 50-day simple moving average is C$5.87 and its 200-day simple moving average is C$6.70.

Talon Metals (TSE:TLO - Get Free Report) last issued its earnings results on Friday, May 15th. The mining company reported C$0.01 EPS for the quarter. The company had revenue of C$65.27 million for the quarter. On average, research analysts predict that Talon Metals Corp. will post 0.01 earnings per share for the current year.

Insiders Place Their Bets

In other Talon Metals news, Director Gregory Stephen Kinross sold 81,100 shares of the company's stock in a transaction on Thursday, May 21st. The stock was sold at an average price of C$6.30, for a total value of C$510,930.00. Following the completion of the sale, the director directly owned 40,500 shares in the company, valued at approximately C$255,150. This represents a 66.69% decrease in their position. Also, Director John David Kaplan sold 7,809 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of C$5.85, for a total value of C$45,682.65. Following the transaction, the director directly owned 80,144 shares in the company, valued at C$468,842.40. The trade was a 8.88% decrease in their position. Insiders have sold 280,342 shares of company stock worth $1,765,524 in the last ninety days. 18.55% of the stock is owned by company insiders.

Talon Metals Company Profile

Talon Metals Corp., a mineral exploration company, explores for and develops mineral properties in the United States. It owns an 18.45% interest is the Tamarack nickel-copper-PGE project located in Minnesota, the United States; and a 100% interest in the Trairão iron project located in Brazil. The company is headquartered in Road Town, the British Virgin Islands.

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