Firm Capital Mortgage Investment (OTCMKTS:FCMGF) Shares Down 5.1% – Here’s Why

Firm Capital Mortgage Investment Co. (OTCMKTS:FCMGF)’s share price fell 5.1% on Monday. The company traded as low as $7.75 and last traded at $7.79. Approximately 4,108 shares were traded during trading, a decline of 28% from the average daily volume of 5,700 shares. The stock had previously closed at $8.21.

Wall Street Analysts Forecast Growth

Separately, National Bank Financial initiated coverage on Firm Capital Mortgage Investment in a report on Monday, June 29th. They issued a “sector perform” rating on the stock. One analyst has rated the stock with a Hold rating, According to MarketBeat, Firm Capital Mortgage Investment currently has a consensus rating of “Hold”.

Firm Capital Mortgage Investment Stock Performance

The stock’s 50-day simple moving average is $8.43 and its 200 day simple moving average is $8.56.

Firm Capital Mortgage Investment Company Profile

Firm Capital Mortgage Investment Corporation is a Canadian mortgage investment corporation that provides financing secured by real estate. The company focuses on non-bank lending and invests in mortgage loans backed by residential, commercial, industrial, and multi-residential properties.

Its principal activities include originating and managing conventional first and second mortgages, bridge loans, construction financing, and other short- to medium-term real estate loans. Firm Capital generally serves borrowers and property owners who require customized financing solutions that may not be available through traditional financial institutions.

Founded in 1988, the company operates primarily in Canada, with a focus on major urban markets and established real estate centres.