Separately, National Bank Financial lowered Nemaska Lithium from an outperform rating to a sector perform rating and raised their price objective for the stock from C$2.30 to C$2.40 in a research note on Wednesday.
Nemaska Lithium (NMX) traded down C$0.16 on Wednesday, hitting C$2.03. The stock had a trading volume of 5,555,900 shares, compared to its average volume of 2,240,000. The company has a market cap of $767.54, a price-to-earnings ratio of -67.67 and a beta of 0.38. Nemaska Lithium has a 1-year low of C$0.95 and a 1-year high of C$2.44.
About Nemaska Lithium
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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