Talon Metals (TSE:TLO) Shares Break Below 200-Day Moving Average – Time to Sell?

Talon Metals Corp. (TSE:TLO)’s share price passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of C$7.21 and traded as low as C$6.86. Talon Metals shares last traded at C$6.93, with a volume of 596,277 shares.

Analysts Set New Price Targets

Separately, National Bank Financial set a C$8.00 price objective on shares of Talon Metals and gave the company an “outperform” rating in a research report on Tuesday, July 14th. One research analyst has rated the stock with a Buy rating. According to data from MarketBeat, Talon Metals has a consensus rating of “Buy” and a consensus price target of C$8.00.

Talon Metals Stock Down 8.1%

The stock has a market capitalization of C$1.13 billion, a P/E ratio of 1,983.40 and a beta of 2.15. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.81 and a quick ratio of 5.62. The stock’s fifty day moving average is C$8.53 and its two-hundred day moving average is C$7.21.

Talon Metals (TSE:TLO) last posted its quarterly earnings results on Thursday, August 13th. The mining company reported C$0.03 earnings per share (EPS) for the quarter. The company had revenue of C$73.20 million during the quarter. During the same quarter in the prior year, the company earned ($0.01) earnings per share. As a group, research analysts predict that Talon Metals Corp. will post 0.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Jack Oliver Lundin bought 100,000 shares of the business’s stock in a transaction dated Wednesday, September 16th. The shares were bought at an average cost of C$9.15 per share, with a total value of C$915,000.00. Following the completion of the transaction, the director directly owned 100,000 shares of the company’s stock, valued at approximately C$915,000. This trade represents a ∞ increase in their ownership of the stock. Also, Director Frank David Wheatley sold 20,000 shares of the company’s stock in a transaction on Tuesday, October 27th. The shares were sold at an average price of C$8.04, for a total value of C$160,800.00. Insiders purchased a total of 126,200 shares of company stock worth $1,125,910 over the last 90 days. Insiders own 18.55% of the company’s stock.

About Talon Metals

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.