The stock of Niobay Metals Inc (CVE:NBY) hit a new 52-week low and has $0.89 target or 6.00% below today’s $0.95 share price. The 8 months bearish chart indicates high risk for the $28.41 million company. The 1-year low was reported on Nov, 22 by Barchart.com. If the $0.89 price target is reached, the company will be worth $1.70M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 166,325 shares traded hands or 186.59% up from the average. Niobay Metals Inc (CVE:NBY) has risen 6.00% since October 23, 2016 and is uptrending. It has outperformed by 1.44% the S&P500.
More news for Niobay Metals Inc (CVE:NBY) were recently published by: Marketwired.com, which released: “MDN Announces Name Change, New Stock Symbol and Share Consolidation” on September 20, 2016. Reuters.com‘s article titled: “MDN announces name change, new stock symbol and share consolidation” and published on September 20, 2016 is yet another important article.
Niobay Metals Inc, formerly MDN Inc, is a Canada mineral exploration company. The company has a market cap of $28.41 million. The Company’s business consists of acquiring, exploring and evaluating mining properties. It currently has negative earnings. The Firm is in the exploration and evaluation-stage.
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