NexMetals Mining (NASDAQ:NEXM) Posts Earnings Results

Key Points

• Reported EPS of ($0.22) for the quarter, and shares fell about 6.4% to $2.93 on the day of the release.
• Weiss Ratings reiterated a "sell (e+)" and the stock's average analyst rating is "Reduce" (one Hold, one Sell).
• Institutional investors boosted exposure—Condire Management bought a new stake of roughly $13.74M and several other funds added positions—while NexMetals has a market cap of $104.04M and a negative P/E of -2.79.

NexMetals Mining (NASDAQ:NEXM - Get Free Report) posted its quarterly earnings data on Friday. The company reported ($0.22) EPS for the quarter, Zacks reports.

NexMetals Mining Trading Down 6.4%

Shares of NexMetals Mining stock traded down $0.20 on Friday, hitting $2.93. 51,059 shares of the company's stock traded hands, compared to its average volume of 59,650. The company has a fifty day moving average of $3.76 and a two-hundred day moving average of $4.33. NexMetals Mining has a one year low of $2.88 and a one year high of $10.35. The company has a market capitalization of $104.04 million and a price-to-earnings ratio of -2.79. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.53 and a quick ratio of 2.53.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a "sell (e+)" rating on shares of NexMetals Mining in a report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Reduce".

Hedge Funds Weigh In On NexMetals Mining

A number of institutional investors and hedge funds have recently modified their holdings of the business. Condire Management LP bought a new stake in shares of NexMetals Mining in the 4th quarter valued at $13,738,000. Bank of America Corp DE acquired a new position in shares of NexMetals Mining during the 3rd quarter valued at $2,052,000. Marshall Wace LLP lifted its position in shares of NexMetals Mining by 123.0% during the 4th quarter. Marshall Wace LLP now owns 136,594 shares of the company's stock valued at $534,000 after acquiring an additional 75,347 shares during the period. Federation des caisses Desjardins du Quebec boosted its stake in NexMetals Mining by 9.3% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 497,275 shares of the company's stock worth $1,920,000 after acquiring an additional 42,403 shares in the last quarter. Finally, Bank of Montreal Can bought a new position in NexMetals Mining during the fourth quarter worth $73,000.

About NexMetals Mining

North American Nickel Inc operates as a mineral exploration and resource development company. The company engages in the exploration and development of mineral properties in Morocco and Canada, as well as in Botswana. Its principal asset is the Maniitsoq nickel-copper-cobalt-precious metal sulphide project covering an area of 3,048 square kilometers located in southwest Greenland. The company was formerly known as Widescope Resources Inc and changed its name to North American Nickel Inc in April 2010.

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