Arizona Metals (CVE:AMC) Trading 3.1% Higher – Here’s What Happened

Arizona Metals Corp. (CVE:AMC) shares shot up 3.1% during mid-day trading on Tuesday . The company traded as high as C$4.05 and last traded at C$3.99. 56,916 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 186,441 shares. The stock had previously closed at C$3.87.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AMC. Stifel Nicolaus downgraded shares of Arizona Metals from a “buy” rating to a “hold” rating and set a C$1.50 price target for the company. in a report on Monday, May 4th. National Bank Financial downgraded shares of Arizona Metals from an “outperform” rating to a “sector perform” rating in a report on Friday, May 1st. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Arizona Metals has a consensus rating of “Hold” and an average price target of C$1.63.

Arizona Metals Stock Performance

The company’s fifty day simple moving average is C$3.99 and its two-hundred day simple moving average is C$3.99. The stock has a market capitalization of C$446.17 million and a PE ratio of -16.49.

About Arizona Metals

Arizona Metals Corp. operates as a mineral exploration company. The company primarily explores for copper, gold, zinc, and silver deposits. It owns 100% interests in the Kay mine project, which consists of approximately 1,300 acres of patented and BLM claims located in Yavapai County, Arizona; and the Sugarloaf Peak Gold project that comprises 4,400 acres of BLM claims situated in La Paz County, Arizona. The company was formerly known as Ring The Bell Capital Corp and changed its name to Arizona Metals Corp.