NextSource Materials (TSE:NEXT) Stock Price Down 2.3%

Shares of NextSource Materials Inc. (TSE:NEXT) fell 2.3% during mid-day trading on Monday . The company traded as low as C$0.81 and last traded at C$0.86. 26,000 shares were traded during trading, a decline of 69% from the average session volume of 83,961 shares. The stock had previously closed at C$0.88.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets set a C$1.00 target price on shares of NextSource Materials and gave the stock an “outperform” rating in a research report on Tuesday, May 7th.

NextSource Materials Price Performance

The stock has a market cap of C$124.62 million, a P/E ratio of -16.00 and a beta of 2.21. The company has a current ratio of 5.22, a quick ratio of 0.18 and a debt-to-equity ratio of 23.34. The company’s fifty day simple moving average is C$0.85 and its 200-day simple moving average is C$0.80.

NextSource Materials Company Profile

NextSource Materials Inc acquires, explores for, and develops mineral properties in Madagascar and Canada. The company primarily explores for graphite and vanadium deposits. Its flagship property is the 100% owned Molo graphite mine project located in the Southern Madagascar Region, Madagascar. The company was formerly known as Energizer Resources Inc The company was founded in 2004 and is headquartered in Toronto, Canada.