NexMetals Mining (NASDAQ:NEXM) Announces Quarterly Earnings Results

NexMetals Mining (NASDAQ:NEXM) released its quarterly earnings results on Monday. The company reported ($0.24) earnings per share for the quarter, Zacks reports.

NexMetals Mining Price Performance

NexMetals Mining stock traded down $0.04 during mid-day trading on Monday, reaching $2.17. The company had a trading volume of 11,559 shares, compared to its average volume of 52,488. The business has a fifty day simple moving average of $2.30 and a 200 day simple moving average of $2.75. The company has a market cap of $77.36 million and a P/E ratio of -2.07. NexMetals Mining has a fifty-two week low of $2.03 and a fifty-two week high of $6.65. The company has a current ratio of 7.72, a quick ratio of 7.72 and a debt-to-equity ratio of 0.01.

Hedge Funds Weigh In On NexMetals Mining

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of NexMetals Mining in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, NexMetals Mining has a consensus rating of “Hold”.

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.