NextSource Materials (TSE:NEXT) Trading 11.3% Higher - Here's What Happened

Key Points

• NextSource Materials' stock rose by 11.3% to C$0.54, with trading volume increasing to 180,196 shares, significantly above the average of 133,341 shares.
• The company has a market cap of C$99.85 million and a negative PE ratio of -7.71, indicating it is operating at a loss.
• BMO Capital Markets has given NextSource Materials a "market perform" rating, and currently, the stock holds an average rating of "Hold" from analysts.

NextSource Materials Inc. (TSE:NEXT - Get Free Report) traded up 11.3% on Friday . The stock traded as high as C$0.54 and last traded at C$0.54. 180,196 shares were traded during trading, an increase of 35% from the average session volume of 133,341 shares. The stock had previously closed at C$0.49.

Analysts Set New Price Targets

Separately, BMO Capital Markets reissued a "market perform" rating on shares of NextSource Materials in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, NextSource Materials presently has an average rating of "Hold".

NextSource Materials Stock Up 11.3%

The company has a market cap of C$99.85 million, a PE ratio of -7.71 and a beta of 0.60. The business has a 50-day simple moving average of C$0.43 and a 200-day simple moving average of C$0.33. The company has a quick ratio of 0.18, a current ratio of 0.47 and a debt-to-equity ratio of 44.27.

About NextSource Materials

NextSource Materials Inc is a strategic materials development company based in Toronto, Canada. The company's Molo graphite project in Madagascar is one of the largest known and highest-quality graphite deposits globally, and contains SuperFlake graphite.

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