Blue Moon Metals (CVE:MOON) Stock Price Up 14.1% - Here's Why

Key Points

• Shares jumped 14.1% on Wednesday, trading as high as C$10.58 and last at C$10.55 on volume of ~207,901 shares (about 7% above average) after a prior close of C$9.25.
• Scotiabank raised its price objective to C$7.50 (from C$6.00) and the stock carries a MarketBeat consensus rating of Buy with an average target of C$7.50.
• Blue Moon Metals is an exploration-stage miner (market cap ~C$849.7M) focused on zinc, copper, silver and gold, holding the Blue Moon zinc property in California and the Yava base metals leases in Nunavut.

Blue Moon Metals Inc. (CVE:MOON - Get Free Report) rose 14.1% on Wednesday . The stock traded as high as C$10.58 and last traded at C$10.55. Approximately 207,901 shares changed hands during trading, an increase of 7% from the average daily volume of 194,508 shares. The stock had previously closed at C$9.25.

Analysts Set New Price Targets

Separately, Scotiabank raised their price objective on Blue Moon Metals from C$6.00 to C$7.50 in a research note on Thursday, January 8th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of C$7.50.

Blue Moon Metals Price Performance

The firm has a market cap of C$849.66 million, a P/E ratio of -22.85 and a beta of 0.77. The company has a debt-to-equity ratio of 10.12, a current ratio of 3.53 and a quick ratio of 0.50. The stock's 50-day simple moving average is C$6.86 and its two-hundred day simple moving average is C$5.17.

About Blue Moon Metals

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.