Blue Moon Metals (CVE:MOON) Shares Down 8.1% - Should You Sell?

Key Points

• Shares dropped 8.1% on Tuesday, trading as low as C$9.50 and last at C$10.03 on volume of about 320,669 shares (≈55% above average) after a prior close of C$10.91.
• Wall Street sentiment is positive: three analysts give a Buy consensus with a C$12.00 average price target, including recent raises to C$13.50 (ATB Cormark) and C$15.00 (Haywood).
• Blue Moon is an exploration-stage miner targeting zinc, copper, silver and gold, with a market cap of C$806M, a negative P/E and a high debt-to-equity ratio (7.09), indicating early-stage risk and capital intensity.

Blue Moon Metals Inc. (CVE:MOON - Get Free Report)'s stock price dropped 8.1% on Tuesday . The company traded as low as C$9.50 and last traded at C$10.03. Approximately 320,669 shares changed hands during trading, an increase of 55% from the average daily volume of 206,451 shares. The stock had previously closed at C$10.91.

Wall Street Analysts Forecast Growth

MOON has been the topic of a number of research reports. ATB Cormark Capital Markets lifted their price target on shares of Blue Moon Metals from C$10.00 to C$13.50 and gave the company a "speculative buy" rating in a report on Monday, April 20th. Haywood Capital set a C$15.00 price objective on Blue Moon Metals and gave the company a "buy" rating in a research report on Friday, April 10th. Finally, Scotiabank boosted their target price on Blue Moon Metals from C$6.00 to C$7.50 in a research report on Thursday, January 8th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of C$12.00.

Blue Moon Metals Stock Down 8.6%

The firm has a market cap of C$806.25 million, a P/E ratio of -21.67 and a beta of 0.77. The company's 50-day simple moving average is C$8.37 and its 200 day simple moving average is C$5.91. The company has a debt-to-equity ratio of 7.09, a current ratio of 7.68 and a quick ratio of 0.50.

Blue Moon Metals Company Profile

Blue Moon Metals Inc, an exploration stage company, engages in the exploration and development of mineral resource properties in Canada and the United States. The company primarily explores for zinc, copper, silver, and gold deposits. It primarily holds 100% interests in the Blue Moon zinc property that comprises patented and unpatented lode mineral claims totaling 445 acres in Mariposa County, California; and Yava base metals property, which includes two mineral leases totaling 1,280 hectares located in Nunavut.

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