Arizona Metals (CVE:AMC) Shares Up 3.1% – Here’s Why

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

Analyst Upgrades and Downgrades

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

Arizona Metals Trading Up 3.1%

The stock’s 50 day moving average price is C$3.99 and its two-hundred day moving average price is C$3.99. The firm has a market capitalization of C$446.17 million and a price-to-earnings ratio of -16.49.

Arizona Metals Company Profile

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.