NextSource Materials (TSE:NEXT) Stock Price Down 6% – Here’s Why

NextSource Materials Inc. (TSE:NEXT)’s share price was down 6% on Friday . The stock traded as low as C$0.40 and last traded at C$0.40. Approximately 105,258 shares changed hands during mid-day trading, a decline of 22% from the average daily volume of 134,087 shares. The stock had previously closed at C$0.42.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets reiterated a “market perform” rating on shares of NextSource Materials in a report on Wednesday, August 6th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

NextSource Materials Price Performance

The company has a market cap of C$73.04 million, a price-to-earnings ratio of -5.64 and a beta of 0.60. The company has a quick ratio of 0.18, a current ratio of 0.47 and a debt-to-equity ratio of 44.27. The company’s fifty day moving average price is C$0.40 and its two-hundred day moving average price is C$0.33.

NextSource Materials Company Profile

NextSource Materials Inc is a strategic materials development company based in Toronto, Canada. The company’s Molo graphite project in Madagascar is one of the largest known and highest-quality graphite deposits globally, and contains SuperFlake graphite.