Fireweed Metals (CVE:FWZ) Trading 5.6% Higher – Still a Buy?

Fireweed Metals Corp. (CVE:FWZ) rose 5.6% during trading on Wednesday . The stock traded as high as C$3.38 and last traded at C$3.38. Approximately 754,571 shares changed hands during trading, an increase of 93% from the average daily volume of 391,362 shares. The stock had previously closed at C$3.20.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on FWZ shares. BMO Capital Markets set a C$4.00 target price on shares of Fireweed Metals and gave the company an “outperform” rating in a research note on Monday, December 1st. Ventum Cap Mkts upgraded shares of Fireweed Metals to a “strong-buy” rating in a report on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Strong Buy” and a consensus target price of C$4.00.

Fireweed Metals Price Performance

The firm has a market capitalization of C$712.76 million, a P/E ratio of -14.70 and a beta of 1.26. The firm has a 50-day moving average price of C$2.87 and a two-hundred day moving average price of C$2.79.

Fireweed Metals Company Profile

Fireweed Metals Corp. engages in the acquisition and exploration of mineral assets in Canada. It explores for zinc, lead, and silver, as well as gallium and germanium deposits. The company owns an interest in the Macmillan Pass project located in Yukon, Canada; and the Gayna River project situated in Northwest Territories, Canada. It also has an option to acquire 100% interest in the Mactung Tungsten project that covers an area of 37.6 square kilometers located in Yukon and Northwest Territories, Canada.