CanAlaska Uranium (CVE:CVV) Stock Price Up 6.1% – Time to Buy?

CanAlaska Uranium Ltd. (CVE:CVV) shares were up 6.1% on Wednesday . The company traded as high as C$0.70 and last traded at C$0.70. Approximately 298,865 shares changed hands during mid-day trading, a decline of 56% from the average daily volume of 684,278 shares. The stock had previously closed at C$0.66.

Analyst Upgrades and Downgrades

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

CanAlaska Uranium Stock Performance

The stock’s fifty day simple moving average is C$0.82 and its two-hundred day simple moving average is C$0.80. The company has a market capitalization of C$154.08 million, a price-to-earnings ratio of -7.78 and a beta of -0.23.