Imperial Metals (III) Shares Down 1.3% on Analyst Downgrade

Imperial Metals Corp (TSE:III)’s share price was down 1.3% on Friday after Canaccord Genuity lowered their price target on the stock from C$2.50 to C$1.00. Canaccord Genuity currently has a sell rating on the stock. Imperial Metals traded as low as C$2.98 and last traded at C$3.04. Approximately 73,670 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 165,143 shares. The stock had previously closed at C$3.00.

III has been the topic of a number of other reports. Scotiabank cut their price target 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. CIBC reissued an “outperform” rating and issued a C$3.50 price target on shares of Imperial Metals in a report on Friday, September 15th. Finally, TD Securities dropped their price objective on shares of Imperial Metals from C$4.00 to C$3.50 in a report on Thursday, November 16th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of C$3.18.

The firm has a market cap of $303.39, a price-to-earnings ratio of -24.09 and a beta of 0.88.

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Imperial Metals Company Profile

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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