Talon Metals (TSE:TLO) Trading 5.9% Higher – Here’s What Happened

Talon Metals Corp. (TSE:TLO)’s share price shot up 5.9% during trading on Wednesday . The company traded as high as C$0.09 and last traded at C$0.09. 446,625 shares traded hands during trading, an increase of 3% from the average session volume of 434,979 shares. The stock had previously closed at C$0.09.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group raised Talon Metals to a “moderate buy” rating in a report on Wednesday, October 16th.

Talon Metals Price Performance

The firm has a market cap of C$84.12 million, a price-to-earnings ratio of -55.00 and a beta of 1.13. The company has a current ratio of 2.81, a quick ratio of 5.62 and a debt-to-equity ratio of 0.08. The company’s 50-day moving average is C$0.09 and its 200-day moving average is C$0.13.

Insider Buying and Selling at Talon Metals

In related news, insider Resource Capital Fund VI L.P. sold 500,000 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of C$0.09, for a total transaction of C$45,000.00. In the last quarter, insiders have sold 1,333,000 shares of company stock valued at $118,220. 18.55% of the stock is currently owned by corporate insiders.

Talon Metals Company Profile

Talon Metals Corp., a mineral exploration company, explores for and develops mineral properties in the United States. It owns an 18.45% interest is the Tamarack nickel-copper-PGE project located in Minnesota, the United States; and a 100% interest in the Trairão iron project located in Brazil. The company is headquartered in Road Town, the British Virgin Islands.