NexMetals Mining (NASDAQ:NEXM) Issues Quarterly Earnings Results

NexMetals Mining (NASDAQ:NEXM) released its quarterly earnings results on Wednesday, May 13th. The company reported $0.22 earnings per share (EPS) for the quarter, Zacks reports.

NexMetals Mining Stock Down 4.3%

NexMetals Mining stock traded down $0.11 during midday trading on Thursday, hitting $2.42. 14,278 shares of the company were exchanged, compared to its average volume of 26,101. NexMetals Mining has a fifty-two week low of $2.20 and a fifty-two week high of $10.35. The company’s fifty day moving average price is $2.63 and its 200-day moving average price is $3.12. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.72 and a quick ratio of 7.72. The company has a market cap of $86.27 million and a PE ratio of -2.30.

Analyst Upgrades and Downgrades

NEXM has been the subject of a number of research analyst reports. Raymond James Financial initiated coverage on NexMetals Mining in a report on Tuesday, March 31st. They set an “outperform” rating for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NexMetals Mining in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, NexMetals Mining has an average rating of “Hold”.

Institutional Investors Weigh In On NexMetals Mining

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can bought a new stake in shares of NexMetals Mining during the fourth quarter valued at approximately $73,000. Marshall Wace LLP raised its position in NexMetals Mining by 123.0% during the fourth quarter. Marshall Wace LLP now owns 136,594 shares of the company’s stock worth $534,000 after acquiring an additional 75,347 shares during the last quarter. Bank of America Corp DE acquired a new stake in shares of NexMetals Mining in the third quarter valued at about $2,052,000. Federation des caisses Desjardins du Quebec grew its holdings in NexMetals Mining by 9.3% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 497,275 shares of the company’s stock worth $1,920,000 after acquiring an additional 42,403 shares during the period. Finally, Condire Management LP bought a new position in shares of NexMetals Mining during the 4th quarter valued at $13,738,000.

NexMetals Mining Company Profile

North American Nickel Inc operates as a mineral exploration and resource development company. The company engages in the exploration and development of mineral properties in Morocco and Canada, as well as in Botswana. Its principal asset is the Maniitsoq nickel-copper-cobalt-precious metal sulphide project covering an area of 3,048 square kilometers located in southwest Greenland. The company was formerly known as Widescope Resources Inc and changed its name to North American Nickel Inc in April 2010.