NextSource Materials (TSE:NEXT) Trading Up 6.2%

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

A number of research analysts recently commented on NEXT shares. Cormark upped their price objective on NextSource Materials from C$5.30 to C$6.20 in a report on Thursday, November 18th. BMO Capital Markets reiterated a “buy” rating and issued a C$7.00 price objective on shares of NextSource Materials in a report on Thursday, December 16th.

The company has a market capitalization of C$430.77 million and a price-to-earnings ratio of -5.91. The business has a 50 day simple moving average of C$3.34 and a 200 day simple moving average of C$2.86.

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.

See Also: The primary rules of Elliott Wave theory

Receive News & Ratings for NextSource Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NextSource Materials and related companies with MarketBeat.com's FREE daily email newsletter.