NextSource Materials (TSE:NEXT) Trading Up 14.6%

NextSource Materials Inc. (TSE:NEXT)’s stock price rose 14.6% on Tuesday . The company traded as high as C$1.02 and last traded at C$1.02. Approximately 107,053 shares were traded during trading, an increase of 31% from the average daily volume of 81,655 shares. The stock had previously closed at C$0.89.

Analysts Set New Price Targets

Separately, BMO Capital Markets set a C$1.00 target price on NextSource Materials and gave the company an “outperform” rating in a research report on Tuesday, May 7th.

NextSource Materials Stock Performance

The business has a 50-day moving average price of C$0.80 and a two-hundred day moving average price of C$0.84. The stock has a market capitalization of C$137.09 million, a P/E ratio of -17.60 and a beta of 2.21. The company has a current ratio of 5.22, a quick ratio of 0.18 and a debt-to-equity ratio of 23.34.

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 flagship property is the 100% owned Molo graphite mine project located in the Southern Madagascar Region, Madagascar. The company was formerly known as Energizer Resources Inc The company was founded in 2004 and is headquartered in Toronto, Canada.