Grid Metals (CVE:GRDM) Trading Down 25%

Grid Metals Corp. (CVE:GRDM) dropped 25% during mid-day trading on Wednesday . The company traded as low as C$0.03 and last traded at C$0.03. Approximately 505,000 shares traded hands during trading, an increase of 642% from the average daily volume of 68,074 shares. The stock had previously closed at C$0.04.

Wall Street Analyst Weigh In

Separately, Fundamental Research set a C$0.42 target price on shares of Grid Metals and gave the company a “buy” rating in a research note on Thursday, August 8th.

Grid Metals Trading Up 14.3 %

The company has a quick ratio of 6.27, a current ratio of 1.44 and a debt-to-equity ratio of 97.17. The company’s 50-day moving average is C$0.05 and its 200-day moving average is C$0.06. The stock has a market capitalization of C$8.18 million, a price-to-earnings ratio of -0.58 and a beta of 2.31.

Grid Metals Company Profile

Grid Metals Corp. engages in the exploring and developing base and precious metal mineral properties in Canada. It explores for nickel, copper, cobalt, lithium, and platinum group metals. The company primarily focuses on the East Bull Lake Palladium property that consists of unpatented mining claims located in Ontario.