Niobay Metals (CVE:NBY) Trading Down 12.5% – Should You Sell?

Niobay Metals Inc. (CVE:NBY) shares dropped 12.5% during mid-day trading on Friday . The company traded as low as C$0.07 and last traded at C$0.07. Approximately 893,393 shares changed hands during trading, an increase of 423% from the average daily volume of 170,861 shares. The stock had previously closed at C$0.08.

Niobay Metals Stock Performance

The company’s 50 day moving average price is C$0.06 and its 200-day moving average price is C$0.06. The stock has a market cap of C$7.22 million, a P/E ratio of -2.33 and a beta of 0.29.

About Niobay Metals

Niobay Metals Inc engages in the acquisition, exploration, and evaluation of mineral properties in Canada. The company explores for niobium, tantalum, titanium, and phosphate properties. It holds 100% interests in the James Bay niobium project that covers an area of 8,833 hectares located in the James Bay Lowlands in northeastern Ontario, Canada; and 72.5% interests in the Crevier niobium and tantalum project that covers 83 contiguous concessions covering a total of 4,645 hectares located to the north of Girardville, in the Lac Saint-Jean region, province of Quebec, Canada.