Nevada King Gold (CVE:NKG) Hits New 12-Month Low - What's Next?

Key Points

• Nevada King Gold Corp. shares reached a new 52-week low, trading as low as C$0.13 before ending the day at C$0.14.
• Despite the drop in stock price, Desjardins has maintained a "buy" rating with a revised price target of C$80.00.
• The company has a current market capitalization of C$52.77 million and is focused on exploring gold, silver, iron ore, and other metals in Nevada, USA.

Shares of Nevada King Gold Corp. (CVE:NKG - Get Free Report) hit a new 52-week low on Tuesday . The stock traded as low as C$0.13 and last traded at C$0.14, with a volume of 190947 shares. The stock had previously closed at C$0.15.

Analysts Set New Price Targets

Separately, Desjardins reduced their price target on Nevada King Gold from C$90.00 to C$80.00 and set a "buy" rating for the company in a report on Wednesday, June 25th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of C$80.00.

Nevada King Gold Stock Performance

The company has a market cap of C$52.77 million, a P/E ratio of -2.24 and a beta of 1.57. The firm has a 50 day moving average price of C$0.15 and a 200-day moving average price of C$0.22.

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.