National Bank Financial Downgrades Nemaska Lithium (NMX) to Sector Perform
Nemaska Lithium (TSE:NMX) was downgraded by equities research analysts at National Bank Financial from an “outperform” rating to a “sector perform” rating in a research note issued on Wednesday. They presently have a C$2.40 price objective on the stock, up from their prior price objective of C$2.30. National Bank Financial’s price target suggests a potential upside of 18.23% from the stock’s current price.
Nemaska Lithium (TSE:NMX) opened at C$2.03 on Wednesday. Nemaska Lithium has a fifty-two week low of C$0.95 and a fifty-two week high of C$2.44. The stock has a market capitalization of $767.54, a price-to-earnings ratio of -67.67 and a beta of 0.38.
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Nemaska Lithium Inc engages in the exploration and evaluation of hard rock lithium mining properties and related processing of spodumene into lithium compounds in Canada. The company owns 100% interests in the Whabouchi Property that consists of 33 claims covering an area of 1,716 hectares located in the Eeyou Istchee/James Bay area of Quebec province; and the Sirmac Property, which comprises 24 mining claims covering an area of 1,101 hectares located to the northwest of the town of Chibougamau and southeast of the town of Nemaskain Quebec province.
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