NextSource Materials (TSE:NEXT) Stock Price Down 5.1% – Here’s Why

NextSource Materials Inc. (TSE:NEXT) was down 5.1% during mid-day trading on Tuesday . The company traded as low as C$0.28 and last traded at C$0.28. Approximately 59,020 shares traded hands during trading, a decline of 70% from the average session volume of 194,267 shares. The stock had previously closed at C$0.29.

NextSource Materials Price Performance

The business has a fifty day moving average of C$0.35 and a 200 day moving average of C$0.36. The company has a debt-to-equity ratio of 109.60, a current ratio of 0.62 and a quick ratio of 0.18. The stock has a market cap of C$69.96 million, a PE ratio of -1.42 and a beta of -0.02.

NextSource Materials (TSE:NEXT) last posted its quarterly earnings data on Friday, May 8th. The company reported C($0.04) earnings per share (EPS) for the quarter. NextSource Materials had a negative return on equity of 109.76% and a negative net margin of 3,596.55%.The business had revenue of C$0.20 million for the quarter.

About NextSource Materials

NextSource Materials Inc is a battery materials company based in Toronto, Canada that is intent on becoming a vertically integrated global supplier of battery materials through the mining and value-added processing of graphite and other minerals. The Company’s Molo graphite project in Madagascar is one of the largest known and highest-quality graphite resources globally, and the only one with SuperFlake® graphite. The Molo mine has begun production through Phase 1 mine operations. The Company is also developing a significant downstream graphite value-add business through the staged rollout of Battery Anode Facilities (BAF) capable of large-scale production of coated, spheronized and purified graphite for direct delivery to battery and automotive customers, in a fully transparent and traceable manner.