Blue Moon Metals (CVE:MOON) Share Price Crosses Above Fifty Day Moving Average – Here’s Why

Blue Moon Metals Inc. (CVE:MOON) shares passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$5.47 and traded as high as C$6.96. Blue Moon Metals shares last traded at C$6.90, with a volume of 515,292 shares traded.

Wall Street Analysts Forecast Growth

Separately, Scotiabank increased their target price on shares of Blue Moon Metals from C$6.00 to C$7.50 in a research note on Thursday, January 8th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of C$7.50.

Blue Moon Metals Price Performance

The firm has a market capitalization of C$557.82 million, a PE ratio of -15.00 and a beta of 2.00. The firm has a fifty day moving average price of C$5.47 and a 200 day moving average price of C$4.29.

About Blue Moon Metals

Blue Moon Metals Inc, an exploration stage company, engages in the exploration and development of mineral resource properties in Canada and the United States. The company primarily explores for zinc, copper, silver, and gold deposits. It primarily holds 100% interests in the Blue Moon zinc property that comprises patented and unpatented lode mineral claims totaling 445 acres in Mariposa County, California; and Yava base metals property, which includes two mineral leases totaling 1,280 hectares located in Nunavut.