Niobay Metals (CVE:NBY) Share Price Breaks Below 50-Day Moving Average – Here’s Why

Niobay Metals Inc. (CVE:NBY)’s share price crossed below its 50 day moving average during trading on Friday. The stock has a 50 day moving average of C$0.07 and traded as low as C$0.07. Niobay Metals shares last traded at C$0.07, with a volume of 831,168 shares changing hands.

Niobay Metals Stock Down 13.3%

The firm has a market cap of C$12.22 million, a price-to-earnings ratio of -3.25 and a beta of 0.69. The company has a 50 day moving average of C$0.07 and a 200 day moving average of C$0.09.

Niobay Metals Company Profile

Niobay Metals Inc. engages in the acquisition, exploration, and evaluation of mineral properties in Canada. The company explores for niobium, tantalum, titanium, and phosphate properties. It holds 100% interests in the James Bay niobium project that covers an area of 8,833 hectares located in the James Bay Lowlands in northeastern Ontario, Canada; and 72.5% interests in the Crevier niobium and tantalum project that covers 83 contiguous concessions covering a total of 4,645 hectares located to the north of Girardville, in the Lac Saint-Jean region, province of Quebec, Canada.