Power Metals (CVE:PWM) Trading Up 14% – Here’s Why

Shares of Power Metals Corp. (CVE:PWM) were up 14% during trading on Wednesday . The stock traded as high as C$0.55 and last traded at C$0.53. Approximately 1,528,845 shares traded hands during mid-day trading, an increase of 651% from the average daily volume of 203,634 shares. The stock had previously closed at C$0.47.

Power Metals Price Performance

The stock has a market capitalization of C$90.75 million, a P/E ratio of -52.00 and a beta of 0.47. The firm has a 50-day moving average of C$0.48 and a 200 day moving average of C$0.67.

Insider Buying and Selling

In related news, insider Winsome Resources Limited sold 20,000,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of C$0.13, for a total value of C$2,600,000.00. Following the completion of the transaction, the insider directly owned 214,000 shares of the company’s stock, valued at C$27,820. This trade represents a 98.94% decrease in their ownership of the stock. Insiders sold 20,245,500 shares of company stock valued at $2,714,790 over the last three months. 1.94% of the stock is owned by company insiders.

About Power Metals

Power Metals Corp., an exploration company, engages in the acquisition, exploration, and evaluation of resource properties in Canada. The company primarily explores for lithium, cesium, and tantalum metal deposits. It holds a 100% interest in the Case Lake property that consists of 475 cell claims located in Ontario. The company also has an option agreement to acquire 100% interests in the Paterson Lake property consisting of 106 cell claims located in northwestern Ontario; and holds Gullwing-Tot Lake property that consists of 112 cell claims located in northwestern Ontario.