Nevada King Gold (CVE:NKG) Stock Price Down 6.3% - Should You Sell?

Key Points

• Nevada King Gold Corp. experienced a significant stock price drop of 6.3%, trading at C$0.15, with trading volume down by 69% from its average.
• Desjardins decreased its price target for the company from C$90.00 to C$80.00, while still maintaining a "buy" rating.
• The company, which focuses on exploring resource properties primarily in Nevada, has a market capitalization of C$58.64 million and a P/E ratio of -2.49.

Nevada King Gold Corp. (CVE:NKG - Get Free Report)'s stock price traded down 6.3% during mid-day trading on Monday . The company traded as low as C$0.15 and last traded at C$0.15. 66,185 shares traded hands during trading, a decline of 69% from the average session volume of 214,281 shares. The stock had previously closed at C$0.16.

Wall Street Analysts Forecast Growth

Separately, Desjardins decreased their target price on shares of Nevada King Gold from C$90.00 to C$80.00 and set a "buy" rating for the company in a research report on Wednesday, June 25th.

Nevada King Gold Price Performance

The stock's fifty day moving average is C$0.15 and its two-hundred day moving average is C$0.22. The firm has a market capitalization of C$56.68 million, a price-to-earnings ratio of -2.40 and a beta of 1.57.

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.