CanAlaska Uranium (CVE:CVV) Shares Down 9.3% – Here’s What Happened

CanAlaska Uranium Ltd. (CVE:CVV)’s share price dropped 9.3% during mid-day trading on Tuesday . The company traded as low as C$0.84 and last traded at C$0.88. Approximately 960,303 shares traded hands during mid-day trading, an increase of 47% from the average daily volume of 654,707 shares. The stock had previously closed at C$0.97.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group set a C$1.35 target price on shares of CanAlaska Uranium and gave the company a “moderate buy” rating in a report on Monday, January 19th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of C$1.35.

CanAlaska Uranium Price Performance

The firm has a market cap of C$171.43 million, a PE ratio of -8.67 and a beta of 0.58. The company’s 50 day moving average price is C$0.80 and its 200 day moving average price is C$0.81.