NexMetals Mining (NASDAQ:NEXM) Shares Down 3.6% - What's Next?

Key Points

• NexMetals Mining shares fell 3.6% to $1.86 in mid-day trading, with volume about 37% above the average session level. The stock remains below its 50-day and 200-day moving averages.
• Analyst sentiment is mixed: one analyst rates the stock Buy, one Hold and one Sell, resulting in a consensus “Hold” rating. Weiss Ratings separately reaffirmed a “sell (e+)” rating.
• The company reported a quarterly loss of $0.24 per share, while its balance sheet showed low leverage and strong liquidity, including a 0.02 debt-to-equity ratio and 5.16 current and quick ratios.

NexMetals Mining Corp. (NASDAQ:NEXM - Get Free Report)'s stock price fell 3.6% during mid-day trading on Friday. The company traded as low as $1.80 and last traded at $1.86. Approximately 44,119 shares traded hands during mid-day trading, an increase of 37% from the average session volume of 32,304 shares. The stock had previously closed at $1.93.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a "sell (e+)" rating on shares of NexMetals Mining in a research report on Monday, September 21st. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold".

NexMetals Mining Stock Down 3.6%

The firm has a market capitalization of $66.32 million, a P/E ratio of -2.38 and a beta of 2.81. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.16 and a current ratio of 5.16. The business's fifty day moving average price is $2.25 and its two-hundred day moving average price is $2.42.

NexMetals Mining (NASDAQ:NEXM - Get Free Report) last issued its quarterly earnings data on Monday, August 17th. The company reported ($0.24) earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On NexMetals Mining

An institutional investor recently raised its position in NexMetals Mining stock. TD Waterhouse Canada Inc. raised its holdings in shares of NexMetals Mining Corp. (NASDAQ:NEXM - Free Report) by 1,392,000.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,842 shares of the company's stock after purchasing an additional 27,840 shares during the period. TD Waterhouse Canada Inc. owned 0.08% of NexMetals Mining worth $68,000 at the end of the most recent quarter.

About NexMetals Mining

NexMetals Mining Corp. NASDAQ: NEXM is a mineral exploration and development company focused on identifying, acquiring and advancing mineral properties in North America. The company's activities are centered on the exploration of base- and precious-metal deposits and the evaluation of their potential for future development.

The company's principal asset is the Lone Mountain project in central Nevada, which is prospective for zinc, lead and silver. NexMetals' work includes geological mapping, sampling, drilling and other exploration programs intended to define mineralization and assess the project's economic potential.

NexMetals Mining was formerly known as Nevada Zinc Corporation.

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