Blue Moon Metals (CVE:MOON) Share Price Crosses Below 50 Day Moving Average – Should You Sell?

Blue Moon Metals Inc. (CVE:MOON) shares passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$9.86 and traded as low as C$7.59. Blue Moon Metals shares last traded at C$8.02, with a volume of 106,669 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MOON. Haywood Capital set a C$15.00 price target on Blue Moon Metals and gave the stock a “buy” rating in a research report on Friday, April 10th. ATB Cormark Capital Markets raised their price target on Blue Moon Metals from C$10.00 to C$13.50 and gave the company a “speculative buy” rating in a report on Monday, April 20th. Three analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of C$12.00.

Blue Moon Metals Price Performance

The company has a current ratio of 2.24, a quick ratio of 0.50 and a debt-to-equity ratio of 6.52. The business’s fifty day moving average is C$9.86 and its 200 day moving average is C$7.60. The firm has a market capitalization of C$840.86 million, a P/E ratio of -0.75 and a beta of 0.31.

Blue Moon Metals Company Profile

Blue Moon Metals Inc, an exploration stage company, engages in the exploration and development of mineral resource properties in Canada and the United States. The company primarily explores for zinc, copper, silver, and gold deposits. It primarily holds 100% interests in the Blue Moon zinc property that comprises patented and unpatented lode mineral claims totaling 445 acres in Mariposa County, California; and Yava base metals property, which includes two mineral leases totaling 1,280 hectares located in Nunavut.