Nemaska Lithium (NMX) Shares Down 3.2%

Nemaska Lithium Inc (TSE:NMX)’s share price dropped 3.2% during trading on Wednesday . The company traded as low as C$0.30 and last traded at C$0.30. Approximately 294,001 shares traded hands during trading, a decline of 90% from the average daily volume of 2,984,903 shares. The stock had previously closed at C$0.31.

A number of brokerages have recently issued reports on NMX. National Bank Financial reduced their target price on shares of Nemaska Lithium from C$1.70 to C$1.50 and set an “outperform” rating for the company in a research report on Monday, February 4th. Eight Capital reduced their target price on shares of Nemaska Lithium from C$2.50 to C$1.40 in a research report on Thursday, February 14th. BMO Capital Markets cut shares of Nemaska Lithium from an “outperform” rating to a “market perform” rating and reduced their target price for the company from C$1.45 to C$0.50 in a research report on Thursday, February 14th. Finally, Beacon Securities downgraded Nemaska Lithium from a “buy” rating to a “hold” rating in a research note on Wednesday, February 13th.

The company has a market cap of $262.61 million and a P/E ratio of -12.83. The company has a debt-to-equity ratio of 98.20, a current ratio of 8.12 and a quick ratio of 8.07.

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Nemaska Lithium Company Profile (TSE:NMX)

Nemaska Lithium Inc operates as a developing chemical company in Canada. The company focuses on integrating activities from spodumene mining to the commercialization of lithium hydroxide and lithium carbonate. It owns 100% interests in the Whabouchi property that consists of 33 claims covering an area of 1,716 hectares located in the Eeyou Istchee/James Bay area of Quebec province.

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