NexMetals Mining (NASDAQ:NEXM) Releases Quarterly Earnings Results

NexMetals Mining (NASDAQ:NEXM) posted its quarterly earnings results on Friday. The company reported ($0.22) earnings per share for the quarter, Zacks reports.

NexMetals Mining Stock Down 6.4%

NEXM traded down $0.20 during midday trading on Friday, hitting $2.93. 51,059 shares of the company’s stock traded hands, compared to its average volume of 59,650. The company has a market cap of $104.04 million and a PE ratio of -2.79. The stock’s fifty day simple moving average is $3.76 and its 200-day simple moving average is $4.33. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.53 and a quick ratio of 2.53. NexMetals Mining has a one year low of $2.88 and a one year high of $10.35.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of NexMetals Mining in a research report on Monday, December 29th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, NexMetals Mining presently has an average rating of “Reduce”.

Institutional Inflows and Outflows

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

About NexMetals Mining

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.