Chalice Mining (OTC:CGMLF) Stock Price Down 18.9% – Here’s Why

Chalice Mining Limited (OTC:CGMLF) shares fell 18.9% during trading on Friday . The company traded as low as $1.50 and last traded at $1.50. 30,417 shares changed hands during trading, an increase of 242% from the average session volume of 8,894 shares. The stock had previously closed at $1.85.

Wall Street Analysts Forecast Growth

Separately, UBS Group upgraded Chalice Mining to a “buy” rating and set a $2.75 price objective for the company in a research report on Monday, January 19th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $2.75.

Chalice Mining Stock Down 18.9%

The firm’s 50-day moving average price is $1.41 and its two-hundred day moving average price is $1.29.

Chalice Mining Company Profile

Chalice Mining Limited operates as a mineral exploration and evaluation company. It explores for gold, copper, cobalt, palladium, platinum, and nickel deposits. The company has interest in the Gonneville Nickel-Copper-PGE Project and the exploration of projects located in the West Yilgarn region of Western Australia. Chalice Mining Limited was incorporated in 2005 and is based in West Perth, Australia.