Nextsource Materials (TSE:NEXT) Trading Down 5.1%

NextSource Materials Inc. (TSE:NEXT – Get Rating) was down 5.1% on Thursday . The company traded as low as C$2.05 and last traded at C$2.06. Approximately 86,439 shares were traded during trading, a decline of 44% from the average daily volume of 154,022 shares. The stock had previously closed at C$2.17.
Separately, BMO Capital Markets dropped their price target on shares of NextSource Materials from C$7.00 to C$6.00 in a research report on Thursday, May 26th.
The company has a fifty day moving average of C$2.72 and a two-hundred day moving average of C$3.37. The stock has a market capitalization of C$207.96 million and a price-to-earnings ratio of -3.80.
About NextSource Materials (TSE:NEXT)
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.