Talon Metals (TSE:TLO) Shares Up 13.7% – Here’s What Happened

Talon Metals Corp. (TSE:TLO) rose 13.7% during trading on Tuesday . The company traded as high as C$0.43 and last traded at C$0.42. Approximately 5,061,462 shares traded hands during mid-day trading, an increase of 193% from the average daily volume of 1,730,088 shares. The stock had previously closed at C$0.37.

Wall Street Analysts Forecast Growth

Separately, TD Securities increased their target price on Talon Metals from C$0.35 to C$0.50 and gave the stock a “buy” rating in a research note on Monday, August 18th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of C$0.48.

Talon Metals Stock Performance

The business has a fifty day moving average price of C$0.41 and a 200-day moving average price of C$0.30. The company has a quick ratio of 5.62, a current ratio of 2.81 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of C$463.15 million, a P/E ratio of -55.00 and a beta of 0.58.

Talon Metals Company Profile

Talon Metals Corp., a mineral exploration company, explores for and develops mineral properties in the United States. It owns an 18.45% interest is the Tamarack nickel-copper-PGE project located in Minnesota, the United States; and a 100% interest in the Trairão iron project located in Brazil. The company is headquartered in Road Town, the British Virgin Islands.