NexMetals Mining (NASDAQ:NEXM) Posts Quarterly Earnings Results
by Michael Walen · The Markets DailyNexMetals Mining (NASDAQ:NEXM – Get Free Report) released its quarterly earnings data on Friday. The company reported ($0.22) earnings per share (EPS) for the quarter, Zacks reports.
NexMetals Mining Stock Down 6.4%
NEXM stock traded down $0.20 during midday trading on Friday, reaching $2.93. 51,059 shares of the company’s stock traded hands, compared to its average volume of 59,650. The company has a quick ratio of 2.53, a current ratio of 2.53 and a debt-to-equity ratio of 0.05. The firm’s fifty day moving average price is $3.76 and its 200-day moving average price is $4.33. NexMetals Mining has a 52 week low of $2.88 and a 52 week high of $10.35. The company has a market cap of $104.04 million and a price-to-earnings ratio of -2.79.
Analysts Set New Price Targets
Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NexMetals Mining in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Reduce”.
Read Our Latest Stock Analysis on NexMetals Mining
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in NEXM. Condire Management LP bought a new stake in shares of NexMetals Mining during the fourth quarter worth about $13,738,000. Federation des caisses Desjardins du Quebec lifted its position in NexMetals Mining by 9.3% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 497,275 shares of the company’s stock valued at $1,920,000 after acquiring an additional 42,403 shares in the last quarter. Bank of America Corp DE bought a new position in NexMetals Mining in the 3rd quarter valued at about $2,052,000. Marshall Wace LLP boosted its stake in NexMetals Mining by 123.0% during the 4th quarter. Marshall Wace LLP now owns 136,594 shares of the company’s stock valued at $534,000 after purchasing an additional 75,347 shares during the last quarter. Finally, Bank of Montreal Can bought a new stake in NexMetals Mining during the 4th quarter worth approximately $73,000.
NexMetals Mining Company Profile
North American Nickel Inc operates as a mineral exploration and resource development company. The company engages in the exploration and development of mineral properties in Morocco and Canada, as well as in Botswana. Its principal asset is the Maniitsoq nickel-copper-cobalt-precious metal sulphide project covering an area of 3,048 square kilometers located in southwest Greenland. The company was formerly known as Widescope Resources Inc and changed its name to North American Nickel Inc in April 2010.