Imperial Metals Co. (TSE:III)’s share price dropped 2.9% on Monday after CIBC lowered their price target on the stock from C$3.50 to C$2.90. The company traded as low as C$2.73 and last traded at C$2.66. Approximately 30,003 shares changed hands during trading, a decline of 33% from the average daily volume of 44,470 shares. The stock had previously closed at C$2.74.
III has been the topic of a number of other reports. Scotiabank reduced their target price on shares of Imperial Metals from C$3.00 to C$2.00 and set an “underperform” rating on the stock in a report on Tuesday, October 31st. Canaccord Genuity cut their price objective on shares of Imperial Metals from C$3.00 to C$2.00 in a report on Thursday. Finally, TD Securities dropped their target price on shares of Imperial Metals from C$4.00 to C$3.50 in a research report on Thursday. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of C$3.38.
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About Imperial Metals
Imperial Metals Corporation is engaged in the exploration and development of base and precious metals from its properties. The Company’s properties include Red Chris copper/gold mine in northwest British Columbia; Mount Polley copper/gold mine in central British Columbia, and Huckleberry copper mine in northern British Columbia.
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