Blue Moon Metals (CVE:MOON) Stock Price Up 14.1% – Here’s Why

Blue Moon Metals Inc. (CVE:MOON) shot up 14.1% during mid-day trading on Wednesday . The stock traded as high as C$10.58 and last traded at C$10.55. 207,901 shares traded hands during mid-day trading, an increase of 7% from the average session volume of 194,508 shares. The stock had previously closed at C$9.25.

Analyst Upgrades and Downgrades

Separately, Scotiabank boosted their target price on Blue Moon Metals from C$6.00 to C$7.50 in a research report on Thursday, January 8th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Blue Moon Metals has an average rating of “Buy” and an average price target of C$7.50.

Blue Moon Metals Price Performance

The firm has a market capitalization of C$849.66 million, a P/E ratio of -22.85 and a beta of 0.77. The stock’s 50 day simple moving average is C$6.86 and its 200 day simple moving average is C$5.17. The company has a debt-to-equity ratio of 10.12, a quick ratio of 0.50 and a current ratio of 3.53.

About Blue Moon Metals

Blue Moon Metals Inc, an exploration stage company, engages in the exploration and development of mineral resource properties in Canada and the United States. The company primarily explores for zinc, copper, silver, and gold deposits. It primarily holds 100% interests in the Blue Moon zinc property that comprises patented and unpatented lode mineral claims totaling 445 acres in Mariposa County, California; and Yava base metals property, which includes two mineral leases totaling 1,280 hectares located in Nunavut.