Energizer Resources (OTCMKTS:NSRCF) Trading Down 3.3% – Here’s Why

Energizer Resources Inc. (OTCMKTS:NSRCF)’s stock price dropped 3.3% during trading on Friday . The stock traded as low as $0.2677 and last traded at $0.2677. Approximately 7,457 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 40,951 shares. The stock had previously closed at $0.2767.

Wall Street Analysts Forecast Growth

Separately, Maxim Group upgraded Energizer Resources to a “strong-buy” rating in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Strong Buy”.

Energizer Resources Stock Down 3.3%

The stock has a 50-day moving average price of $0.24 and a 200 day moving average price of $0.27. The firm has a market capitalization of $49.68 million, a price-to-earnings ratio of -1.41 and a beta of 1.12.

Energizer Resources (OTCMKTS:NSRCF) last issued its earnings results on Friday, May 8th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.01. Energizer Resources had a negative net margin of 3,149.65% and a negative return on equity of 89.77%. The firm had revenue of $0.14 million for the quarter, compared to analysts’ expectations of $0.30 million.

About Energizer Resources

Energizer Resources (OTCMKTS:NSRCF) is a mineral exploration and development company focused primarily on the advancement of high-purity graphite projects. The company’s flagship asset is the Molo Graphite Project in southern Madagascar, where it has delineated a significant measured and indicated resource. Energizer Resources aims to supply natural flake graphite for use in lithium-ion batteries, automotive components, energy storage systems and a variety of industrial applications. Its technical team has completed prefeasibility and definitive feasibility studies, positioning the project for potential commercial production in line with growing demand for sustainable battery materials.

In support of project development, Energizer Resources has pursued offtake memoranda of understanding with downstream processors in Asia and Europe, targeting long-term supply arrangements for graphite concentrate.