Koryx Copper (CVE:KRY) Trading Down 2.3% – Here’s What Happened

Shares of Koryx Copper Inc. (CVE:KRY) traded down 2.3% during mid-day trading on Wednesday . The company traded as low as C$3.36 and last traded at C$3.40. 6,900 shares were traded during mid-day trading, a decline of 96% from the average daily volume of 175,126 shares. The stock had previously closed at C$3.48.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on KRY. BMO Capital Markets set a C$6.00 target price on shares of Koryx Copper and gave the company an “outperform” rating in a research report on Tuesday, June 30th. Stifel Nicolaus raised their price target on shares of Koryx Copper from C$4.25 to C$4.50 and gave the stock a “buy” rating in a research note on Wednesday, April 15th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of C$5.25.

Koryx Copper Stock Performance

The company’s 50 day moving average price is C$3.23 and its 200 day moving average price is C$3.19. The company has a market cap of C$413.30 million, a price-to-earnings ratio of -7.56 and a beta of 0.92.