NextSource Materials (TSE:NEXT) Trading 6.2% Higher

NextSource Materials Inc. (TSE:NEXT)’s stock price traded up 6.2% during mid-day trading on Thursday . The company traded as high as C$4.45 and last traded at C$4.45. 87,483 shares changed hands during trading, a decline of 60% from the average session volume of 216,443 shares. The stock had previously closed at C$4.19.

A number of research analysts have weighed in on the company. Cormark increased their target price on NextSource Materials from C$5.30 to C$6.20 in a report on Thursday, November 18th. BMO Capital Markets reissued a “buy” rating and issued a C$7.00 target price on shares of NextSource Materials in a report on Thursday, December 16th.

The business has a fifty day simple moving average of C$3.34 and a two-hundred day simple moving average of C$2.86. The company has a market cap of C$430.77 million and a P/E ratio of -5.91.

NextSource Materials Company Profile (TSE:NEXT)

NextSource Materials Inc, together with its subsidiaries, acquires, explores for, and develops mineral properties in Madagascar and Canada. The company primarily holds a 100% interest in the Molo Graphite property that includes 2,119 permits covering an area of 827.7 square kilometers located in Southern Madagascar Region, Madagascar.

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