Ecobalt Solutions (ECS) Stock Rating Lowered by Canaccord Genuity

Ecobalt Solutions (TSE:ECS) was downgraded by stock analysts at Canaccord Genuity from a “speculative buy” rating to a “hold” rating in a note issued to investors on Tuesday. They presently have a C$1.50 target price on the stock, up from their prior target price of C$1.30. Canaccord Genuity’s price target would indicate a potential upside of 2.74% from the company’s current price.

Shares of Ecobalt Solutions (ECS) traded up C$0.04 during trading hours on Tuesday, reaching C$1.46. The company’s stock had a trading volume of 240,336 shares, compared to its average volume of 795,821. Ecobalt Solutions has a one year low of C$0.85 and a one year high of C$2.10. The firm has a market capitalization of $188.29, a P/E ratio of -47.33 and a beta of 0.72.

Ecobalt Solutions (TSE:ECS) last announced its quarterly earnings results on Friday, January 12th. The company reported C($0.01) earnings per share (EPS) for the quarter.

In other news, Director Robert Gary Metka sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of C$1.49, for a total transaction of C$74,500.00.

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About Ecobalt Solutions

Ecobalt Solutions Inc, formerly Formation Metals Inc, is a mineral exploration and mine development company. The Company’s primary project is Idaho Cobalt Project (ICP), which is located in the mining state of Idaho. The Company’s segments include Exploration and ICP development, and Corporate. It holds mineral exploration properties in Canada, the United States and Mexico.

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