NexMetals Mining (NASDAQ:NEXM) Trading Down 4.5% - Time to Sell?

Key Points

• Shares fell 4.5% to $2.57 on Thursday with trading volume up about 84% versus the average; the stock is trading below its 50‑day ($2.90) and 200‑day ($3.69) moving averages and has a market cap of ~$91.6M.
• Analyst views are mixed: Raymond James initiated coverage with an "outperform" while Weiss Ratings reiterated a "sell (e+)," leaving a consensus rating of Hold (1 Buy, 1 Hold, 1 Sell).
• Fundamentals remain weak—latest quarterly EPS was ($0.22) and analysts expect ~($0.48) for the year—though several institutional investors have recently built positions, including Desjardins holding ~497,275 shares.

NexMetals Mining Corp. (NASDAQ:NEXM - Get Free Report) shares traded down 4.5% on Thursday . The company traded as low as $2.53 and last traded at $2.57. 70,326 shares were traded during mid-day trading, an increase of 84% from the average session volume of 38,223 shares. The stock had previously closed at $2.69.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Raymond James Financial assumed coverage on NexMetals Mining in a research report on Tuesday, March 31st. They issued an "outperform" rating for the company. Weiss Ratings restated a "sell (e+)" rating on shares of NexMetals Mining in a research report on Friday, March 27th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold".

NexMetals Mining Price Performance

The business has a 50-day moving average price of $2.90 and a 200 day moving average price of $3.69. The company has a market cap of $91.62 million and a price-to-earnings ratio of -2.02. The company has a current ratio of 4.67, a quick ratio of 4.67 and a debt-to-equity ratio of 0.01.

NexMetals Mining (NASDAQ:NEXM - Get Free Report) last announced its quarterly earnings data on Friday, March 13th. The company reported ($0.22) EPS for the quarter. As a group, research analysts expect that NexMetals Mining Corp. will post -0.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NexMetals Mining

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Bank of Montreal Can acquired a new stake in shares of NexMetals Mining during the 4th quarter valued at $73,000. Periscope Capital Inc. acquired a new stake in shares of NexMetals Mining during the 4th quarter valued at $108,000. Villere ST Denis J & Co. LLC lifted its position in shares of NexMetals Mining by 64.7% during the 4th quarter. Villere ST Denis J & Co. LLC now owns 76,400 shares of the company's stock valued at $299,000 after acquiring an additional 30,000 shares during the last quarter. Cibc World Market Inc. acquired a new stake in shares of NexMetals Mining during the 3rd quarter valued at $193,000. Finally, Federation des caisses Desjardins du Quebec lifted its position in shares of NexMetals Mining by 9.3% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 497,275 shares of the company's stock valued at $1,920,000 after acquiring an additional 42,403 shares during the last quarter.

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.

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.