NGEx Resources (NGQ) Shares Down 16.1%

NGEx Resources Inc (TSE:NGQ)’s share price was down 16.1% on Friday . The company traded as low as C$1.25 and last traded at C$1.25. Approximately 30,584 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 767,668 shares. The stock had previously closed at C$1.49.

Several equities analysts have weighed in on NGQ shares. Paradigm Capital lifted their target price on NGEx Resources from C$2.70 to C$3.00 in a research note on Tuesday, January 30th. Scotiabank lifted their target price on NGEx Resources from C$1.00 to C$1.25 and gave the company a “sector perform” rating in a research note on Tuesday, November 14th.

The company has a market cap of $300.95, a P/E ratio of -44.33 and a beta of 0.92.

NGEx Resources (TSE:NGQ) last released its earnings results on Thursday, November 9th. The company reported C($0.01) earnings per share for the quarter.

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About NGEx Resources

NGEx Resources Inc is engaged in the acquisition, exploration and development of mineral properties located in South America. The Company’s principal project is Project Constellation, which consists of the Los Helados project and the Josemaria project, which are exploration stage copper or gold or silver projects located in Chile and Argentina.

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