Nemaska Lithium (TSE:NMX) was downgraded by stock analysts at National Bank Financial from an “outperform” rating to a “sector perform” rating in a report released on Wednesday. They presently have a C$2.40 price objective on the stock, up from their prior price objective of C$2.30. National Bank Financial’s price target suggests a potential upside of 6.19% from the company’s previous close.
Shares of Nemaska Lithium (TSE NMX) traded down C$0.13 during midday trading on Wednesday, reaching C$2.26. 5,650,417 shares of the company were exchanged, compared to its average volume of 1,960,837. The firm has a market cap of $824.26, a PE ratio of -75.33 and a beta of 0.38. Nemaska Lithium has a 12-month low of C$0.95 and a 12-month high of C$2.44.
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Nemaska Lithium Inc engages in the exploration and evaluation of hard rock lithium mining properties and related processing of spodumene into lithium compounds in Canada. The company owns 100% interests in the Whabouchi Property that consists of 33 claims covering an area of 1,716 hectares located in the Eeyou Istchee/James Bay area of Quebec province; and the Sirmac Property, which comprises 24 mining claims covering an area of 1,101 hectares located to the northwest of the town of Chibougamau and southeast of the town of Nemaskain Quebec province.
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