NexMetals Mining (NASDAQ:NEXM) Posts Earnings Results

Key Points

• NexMetals Mining reported a quarterly loss of $0.24 per share, while its stock fell $0.04 to $2.17 in Monday trading.
• The company has a market capitalization of approximately $77.4 million and maintains strong short-term liquidity, with a quick and current ratio of 7.72 and a debt-to-equity ratio of 0.01.
• Analyst sentiment remains mixed, with one Buy, one Hold and one Sell rating, resulting in a consensus rating of Hold; several institutional investors recently increased or initiated positions.

NexMetals Mining (NASDAQ:NEXM - Get Free Report) posted its quarterly earnings results on Monday. The company reported ($0.24) earnings per share for the quarter, Zacks reports.

NexMetals Mining Stock Performance

NASDAQ NEXM traded down $0.04 on Monday, hitting $2.17. 11,452 shares of the stock traded hands, compared to its average volume of 52,487. The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.72 and a current ratio of 7.72. The business's fifty day moving average is $2.30 and its two-hundred day moving average is $2.75. NexMetals Mining has a 12 month low of $2.03 and a 12 month high of $6.65. The firm has a market capitalization of $77.36 million and a price-to-earnings ratio of -2.07.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of NexMetals Mining in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold".

Institutional Investors Weigh In On NexMetals Mining

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

NexMetals Mining Company Profile

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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