NGEx Minerals (OTCMKTS:NGXXF) Shares Down 1.8% – What’s Next?

NGEx Minerals Ltd. (OTCMKTS:NGXXF) shares traded down 1.8% on Tuesday . The company traded as low as C$20.12 and last traded at C$20.21. Approximately 23,727 shares were traded during mid-day trading, a decline of 49% from the average daily volume of 46,427 shares. The stock had previously closed at C$20.57.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. TD Securities initiated coverage on shares of NGEx Minerals in a research note on Thursday, July 23rd. They set a “buy” rating for the company. Jefferies Financial Group reiterated a “buy” rating on shares of NGEx Minerals in a report on Monday, July 6th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, NGEx Minerals has an average rating of “Moderate Buy”.

NGEx Minerals Stock Performance

The firm’s 50 day simple moving average is C$18.34 and its 200-day simple moving average is C$19.43.

About NGEx Minerals

NGEx Minerals Ltd. engages in the acquisition, exploration, and development of mineral properties in South America. The company holds interest in the Los Helados project, a porphyry copper, gold, and silver deposit located in the Andes Mountains of the Atacama Region, Chile. It also holds interest in the Valle Ancho and Interceptor properties located in Catamarca, Argentina; and the Potro Cliffs project located in San Juan Province, Argentina. The company was incorporated in 2019 and is headquartered in Vancouver, Canada.