Niobay Metals (CVE:NBY) Trading Down 23.1% – Here’s Why

Shares of Niobay Metals Inc. (CVE:NBY) were down 23.1% during trading on Thursday . The stock traded as low as C$0.09 and last traded at C$0.10. Approximately 1,770,254 shares traded hands during mid-day trading, an increase of 454% from the average daily volume of 319,344 shares. The stock had previously closed at C$0.13.

Niobay Metals Price Performance

The stock’s 50-day moving average is C$0.14 and its 200 day moving average is C$0.13. The stock has a market cap of C$18.71 million, a price-to-earnings ratio of -3.33 and a beta of 1.99.

Niobay Metals Company Profile

Niobay Metals Inc engages in the acquisition, exploration, and evaluation of mineral properties in Canada. The company explores for niobium, tantalum, titanium, and phosphate properties. It holds 100% interests in the James Bay niobium project that covers an area of 8,833 hectares located in the James Bay Lowlands in northeastern Ontario, Canada; and 72.5% interests in the Crevier niobium and tantalum project that covers 83 contiguous concessions covering a total of 4,645 hectares located to the north of Girardville, in the Lac Saint-Jean region, province of Quebec, Canada.