Grid Metals (CVE:GRDM) Trading 12.5% Higher – Here’s Why

Shares of Grid Metals Corp. (CVE:GRDM) rose 12.5% on Wednesday . The company traded as high as C$0.05 and last traded at C$0.05. Approximately 498,046 shares changed hands during trading, an increase of 510% from the average daily volume of 81,589 shares. The stock had previously closed at C$0.04.

Analysts Set New Price Targets

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

Grid Metals Price Performance

The stock has a 50 day moving average of C$0.04 and a 200 day moving average of C$0.06. The firm has a market capitalization of C$10.22 million, a price-to-earnings ratio of -1.25 and a beta of 2.28. The company has a quick ratio of 6.27, a current ratio of 1.44 and a debt-to-equity ratio of 97.17.

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.