CIBC Downgrades Mirabela Nickel Limited to Sector Underperform (MNB)
Mirabela Nickel Limited (TSE:MNB) was downgraded by equities researchers at CIBC from a “sector perform” rating to a “sector underperform” rating in a research report issued on Friday, AnalystRatingsNetwork.com reports. They currently have a C$0.04 target price on the stock. CIBC’s price target would indicate a potential upside of 100.00% from the stock’s previous close.
A number of other analysts have also recently weighed in on MNB. Analysts at Scotiabank cut their price target on shares of Mirabela Nickel Limited (TSE:MNB) from C$0.25 to C$0.15 in a research note to investors on Wednesday, July 10th. Separately, analysts at RBC Capital cut their price target on shares of Mirabela Nickel Limited (TSE:MNB) to C$0.12 in a research note to investors on Friday, July 5th. They now have a “sector perform” rating on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of C$0.34.
Mirabela Nickel Limited (TSE:MNB) traded down 33.33% on Friday, hitting $0.02. The stock had a trading volume of 2,233,300 shares. Mirabela Nickel Limited has a 52-week low of $0.055 and a 52-week high of $0.62. The stock’s 50-day moving average is $0.08 and its 200-day moving average is $0.17. The company’s market cap is $17.5 million.
Mirabela Nickel Limited (TSE:MNB) is primarily engaged in the business of production, development and exploration of mineral properties in Brazil.
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