NextSource Materials (TSE:NEXT) Trading 12.9% Higher

NextSource Materials Inc. (TSE:NEXT)’s share price rose 12.9% during trading on Tuesday . The stock traded as high as C$0.70 and last traded at C$0.70. Approximately 100,499 shares traded hands during mid-day trading, an increase of 19% from the average daily volume of 84,790 shares. The stock had previously closed at C$0.62.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets set a C$1.00 target price on NextSource Materials and gave the stock an “outperform” rating in a research report on Tuesday.

NextSource Materials Price Performance

The firm has a market cap of C$109.05 million, a PE ratio of -14.00 and a beta of 2.19. The stock’s fifty day moving average price is C$0.72 and its 200-day moving average price is C$0.98. The company has a debt-to-equity ratio of 23.34, a quick ratio of 0.18 and a current ratio of 5.22.

NextSource Materials Company Profile

NextSource Materials Inc acquires, explores for, and develops mineral properties in Madagascar and Canada. The company primarily explores for graphite and vanadium deposits. Its flagship property is the 100% owned Molo graphite mine project located in the Southern Madagascar Region, Madagascar. The company was formerly known as Energizer Resources Inc The company was founded in 2004 and is headquartered in Toronto, Canada.