Nextsource Materials (TSE:NEXT) Shares Up 3.7%

NextSource Materials Inc. (TSE:NEXT – Get Rating)’s stock price shot up 3.7% on Friday . The company traded as high as C$2.80 and last traded at C$2.79. 21,665 shares changed hands during trading, a decline of 84% from the average session volume of 136,585 shares. The stock had previously closed at C$2.69.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets decreased their price objective on shares of NextSource Materials from C$7.00 to C$6.00 in a research note on Thursday, May 26th.

The business’s 50 day moving average is C$2.17 and its 200 day moving average is C$3.06. The stock has a market cap of C$276.28 million and a price-to-earnings ratio of -4.99.

About NextSource Materials

NextSource Materials Inc acquires, explores for, and develops mineral properties in Madagascar and Canada. The company primarily explores for graphite and vanadium deposits. Its principal mineral property is the Molo graphite mine that includes 2,119 permits covering an area of 827.7 square kilometers located in Southern Madagascar Region, Madagascar.

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