Nemaska Lithium (NMX) Lowered to “Sector Perform” at National Bank Financial

Nemaska Lithium (TSE:NMX) was downgraded by analysts at National Bank Financial from an “outperform” rating to a “sector perform” rating in a research note issued on Wednesday. They presently have a C$0.70 price target on the stock, down from their prior price target of C$1.50. National Bank Financial’s target price indicates a potential upside of 105.88% from the stock’s current price.

Separately, BMO Capital Markets dropped their target price on shares of Nemaska Lithium from C$1.50 to C$1.45 and set an “outperform” rating on the stock in a research report on Thursday, November 1st.

Shares of TSE:NMX traded down C$0.21 during trading hours on Wednesday, hitting C$0.34. The company’s stock had a trading volume of 34,989,184 shares, compared to its average volume of 2,553,883. Nemaska Lithium has a 52 week low of C$0.27 and a 52 week high of C$1.74. The company has a debt-to-equity ratio of 92.38, a quick ratio of 13.92 and a current ratio of 14.00. The firm has a market cap of $466.17 million and a P/E ratio of -11.72.

Nemaska Lithium (TSE:NMX) last posted its quarterly earnings data on Wednesday, November 14th. The company reported C($0.01) EPS for the quarter. On average, research analysts predict that Nemaska Lithium will post -0.05 EPS for the current fiscal year.

Nemaska Lithium Company Profile

Nemaska Lithium Inc operates as a developing chemical company in Canada. The company focuses on integrating activities from spodumene mining to the commercialization of lithium hydroxide and lithium carbonate. It owns 100% interests in the Whabouchi property that consists of 33 claims covering an area of 1,716 hectares located in the Eeyou Istchee/James Bay area of Quebec province.

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