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

Niobay Metals Inc. (CVE:NBY) shares dropped 23.1% during trading on Thursday . The company traded as low as C$0.09 and last traded at C$0.10. Approximately 1,770,254 shares changed hands during 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 Stock Performance

The company has a fifty day simple moving average of C$0.14 and a two-hundred day simple moving average of C$0.13. The company has a market capitalization of C$18.71 million, a price-to-earnings ratio of -3.33 and a beta of 1.99.

About Niobay Metals

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.