NextSource Materials Inc. (TSE:NEXT – Get Rating) shares shot up 3.7% on Friday . The stock traded as high as C$2.80 and last traded at C$2.79. 21,665 shares changed hands during trading, a decline of 84% from the average session volume of 136,585 shares. The stock had previously closed at C$2.69.
Wall Street Analysts Forecast Growth
Separately, BMO Capital Markets cut their price target on NextSource Materials from C$7.00 to C$6.00 in a research report on Thursday, May 26th.
NextSource Materials Trading Up 3.7 %
The company has a market cap of C$276.29 million and a price-to-earnings ratio of -4.99. The stock’s fifty day simple moving average is C$2.17 and its 200 day simple moving average is C$3.07.
About NextSource Materials
NextSource Materials Inc acquires, explores for, and develops mineral properties in Madagascar and Canada. The company primarily explores for graphite and vanadium deposits. Its principal mineral property is the Molo graphite mine that includes 2,119 permits covering an area of 827.7 square kilometers located in Southern Madagascar Region, Madagascar.
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