Nextsource Materials (TSE:NEXT) Trading Down 6%

NextSource Materials Inc. (TSE:NEXT – Get Rating) dropped 6% during trading on Friday . The stock traded as low as C$2.80 and last traded at C$2.81. Approximately 86,475 shares were traded during trading, a decline of 31% from the average daily volume of 124,598 shares. The stock had previously closed at C$2.99.
Analysts Set New Price Targets
Separately, BMO Capital Markets reduced their price target on NextSource Materials from C$7.00 to C$6.00 in a research report on Thursday, May 26th.
The stock has a 50 day simple moving average of C$2.62 and a 200 day simple moving average of C$2.80. The stock has a market cap of C$278.27 million and a P/E ratio of -5.03.
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.