NextSource Materials (TSE:NEXT) Shares Up 13.7% – Here’s What Happened

NextSource Materials Inc. (TSE:NEXT)’s share price shot up 13.7% on Monday. The company traded as high as C$0.30 and last traded at C$0.29. 214,405 shares were traded during mid-day trading, an increase of 29% from the average daily volume of 165,595 shares. The stock had previously closed at C$0.26.

NextSource Materials Stock Performance

The stock has a market cap of C$68.74 million, a price-to-earnings ratio of -1.40 and a beta of 0.05. The company has a current ratio of 0.62, a quick ratio of 0.18 and a debt-to-equity ratio of 109.60. The firm has a fifty day simple moving average of C$0.28 and a 200-day simple moving average of C$0.31.

About NextSource Materials

NextSource Materials Inc is a battery materials company based in Toronto, Canada that is intent on becoming a vertically integrated global supplier of battery materials through the mining and value-added processing of graphite and other minerals. The Company’s Molo graphite project in Madagascar is one of the largest known and highest-quality graphite resources globally, and the only one with SuperFlake® graphite. The Molo mine has begun production through Phase 1 mine operations. The Company is also developing a significant downstream graphite value-add business through the staged rollout of Battery Anode Facilities (BAF) capable of large-scale production of coated, spheronized and purified graphite for direct delivery to battery and automotive customers, in a fully transparent and traceable manner.