Nevada King Gold (CVE:NKG) Stock Breaks Below 200-Day Moving Average – Here’s Why

Shares of Nevada King Gold Corp. (CVE:NKG) passed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of C$0.61 and traded as low as C$0.60. Nevada King Gold shares last traded at C$0.60, with a volume of 20,827 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group set a C$2.75 price target on Nevada King Gold and gave the stock a “moderate buy” rating in a research report on Wednesday, September 16th. One equities research analyst has rated the stock with a Buy rating. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of C$2.75.

Nevada King Gold Stock Performance

The company has a market capitalization of C$60.22 million, a P/E ratio of -5.45 and a beta of 1.32. The firm’s fifty day moving average is C$0.78 and its 200 day moving average is C$0.61.

Nevada King Gold Company Profile

Nevada King Gold Corp. engages in the acquisition, exploration, and evaluation of resource properties in Nevada, the United States. The company explores for gold, silver, iron ore, vanadium, and other base metals. The company was formerly known as Victory Metals Inc. and changed its name to Nevada King Gold Corp in April 2021. Nevada King Gold Corp. is based in Vancouver, Canada.