ATEX Resources (CVE:ATX) Trading Down 1.3% - Here's What Happened

Key Points

• ATEX Resources' shares declined by 1.3% on Thursday, closing at C$2.20 with a trading volume 68% lower than its average.
• Analysts are optimistic with the stock rated as a "strong-buy" by one and a regular "buy" by another, setting a consensus price target of C$2.50.
• The company, focusing on mineral exploration in South America, particularly its Valeriano Copper Gold project in Chile, has a market capitalization of C$614.04 million.

Shares of ATEX Resources Inc. (CVE:ATX - Get Free Report) fell 1.3% on Thursday . The stock traded as low as C$2.18 and last traded at C$2.20. 145,797 shares traded hands during trading, a decline of 68% from the average session volume of 454,889 shares. The stock had previously closed at C$2.23.

Wall Street Analysts Forecast Growth

Separately, Stifel Canada raised shares of ATEX Resources to a "strong-buy" rating in a research report on Friday, May 30th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Strong Buy" and an average target price of C$2.50.

ATEX Resources Stock Up 3.6%

The firm has a market cap of C$684.72 million, a price-to-earnings ratio of -9.12 and a beta of 1.85. The company's 50-day moving average price is C$2.16 and its 200-day moving average price is C$2.15.

About ATEX Resources

ATEX Resources Inc engages in the exploration and evaluation of mineral properties in South America. Its flagship property is the Valeriano Copper Gold project covering approximately 3,705 hectares located in the north-central Chile. The company was formerly known as Colombia Crest Gold Corp. and changed its name to ATEX Resources Inc in February 2019.