Galway Metals (CVE:GWM) Trading Down 10.5% – What’s Next?

Galway Metals Inc. (CVE:GWM) dropped 10.5% during mid-day trading on Friday . The company traded as low as C$0.68 and last traded at C$0.68. Approximately 1,317,911 shares traded hands during trading, an increase of 151% from the average daily volume of 525,024 shares. The stock had previously closed at C$0.76.

Galway Metals Stock Down 9.2%

The business’s 50 day moving average is C$0.54 and its 200 day moving average is C$0.59. The company has a market cap of C$90.90 million, a P/E ratio of -7.67 and a beta of 2.78.

Insider Activity at Galway Metals

In related news, Director Robert Hinchcliffe acquired 80,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was purchased at an average cost of C$0.59 per share, for a total transaction of C$47,200.00. Following the purchase, the director directly owned 8,982,746 shares of the company’s stock, valued at C$5,299,820.14. This trade represents a 0.90% increase in their position. Over the last three months, insiders acquired 465,000 shares of company stock valued at $261,380. Insiders own 11.32% of the company’s stock.

About Galway Metals

Galway Metals Inc engages in the acquisition, exploration, and development of mineral resource properties in Canada. The company primarily explores for gold, zinc, copper, silver, and lead deposits. It holds a 100% interest in the Clarence Stream project located in southwest New Brunswick, Canada; and Estrades mine, related Newiska concessions, and adjacent Casa Berardi claims located in western Quebec, Canada. Galway Metals Inc was incorporated in 2012 and is headquartered in Toronto, Canada.