Blue Moon Metals (CVE:MOON) Stock Crosses Above 200 Day Moving Average – Should You Sell?

Shares of Blue Moon Metals Inc. (CVE:MOON) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$3.29 and traded as high as C$3.91. Blue Moon Metals shares last traded at C$3.84, with a volume of 182,263 shares trading hands.

Wall Street Analyst Weigh In

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 data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of C$5.00.

Blue Moon Metals Price Performance

The firm’s 50 day moving average is C$3.44 and its 200 day moving average is C$3.29. The firm has a market cap of C$310.44 million, a P/E ratio of -13.71 and a beta of 1.33.

Insider Activity

In other news, Director Karin Sigrid Thorburn bought 11,800 shares of the company’s stock in a transaction dated Wednesday, July 23rd. The shares were purchased at an average price of C$3.39 per share, for a total transaction of C$40,002.00. Insiders have purchased a total of 29,310 shares of company stock valued at $100,702 in the last 90 days. Corporate 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.