Noram Lithium (CVE:NRM) Shares Pass Below 50 Day Moving Average – Here’s Why

Noram Lithium Corp. (CVE:NRM) passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$0.15 and traded as low as C$0.14. Noram Lithium shares last traded at C$0.15, with a volume of 22,000 shares.

Wall Street Analyst Weigh In

Separately, Fundamental Research set a C$2.07 target price on shares of Noram Lithium and gave the stock a “buy” rating in a research note on Tuesday, July 9th.

Noram Lithium Price Performance

The company has a debt-to-equity ratio of 0.39, a quick ratio of 26.78 and a current ratio of 4.57. The firm has a market capitalization of C$12.47 million, a PE ratio of -2.33 and a beta of 1.26. The company’s 50 day simple moving average is C$0.15 and its 200-day simple moving average is C$0.18.

About Noram Lithium

Noram Lithium Corp., through its subsidiary, Green Energy Resources Inc, engages in the acquisition, exploration, and development of mineral exploration properties. It holds 100% interests in the Zeus lithium project with 146 placer claims and 136 lode claims covering an area of 1,113 hectares located in Clayton Valley, Nevada, the United States.