Thu Sep 19 05:53:16 UTC 2024: ## Power Metal Resources Shares Drop 8% on Wednesday

**London, September 19, 2024** – Power Metal Resources plc (LON:POW) saw its share price plummet by 8% during Wednesday’s trading session, closing at GBX 14.08. The stock traded as low as GBX 14, with a significantly reduced volume of 97,633 shares exchanged compared to the average session volume of 299,417.

The decline comes after the company’s insider, Edmund (Ed) Charles Frederick Shaw, sold 75,000 shares of the stock on Monday, July 1st, at an average price of GBX 17. Currently, 46.00% of the stock is owned by insiders.

Power Metal Resources, a company focused on exploring and exploiting mineral resources in several countries, primarily targets nickel, lithium, tungsten, rare earths, platinum group elements, and other valuable metals.

The stock’s market capitalization sits at £15.65 million, with a PE ratio of -1,600.00 and a beta of 0.86. The stock’s 50-day moving average price is GBX 16.88, while its 200-day moving average price is GBX 14.52.

Read More