Noram Lithium (CVE:NRM) Shares Down 11.5%

Noram Lithium Corp. (CVE:NRM) dropped 11.5% during mid-day trading on Tuesday . The company traded as low as C$0.22 and last traded at C$0.23. Approximately 91,501 shares traded hands during mid-day trading, an increase of 2% from the average daily volume of 90,034 shares. The stock had previously closed at C$0.26.

Analyst Upgrades and Downgrades

Separately, Fundamental Research set a C$2.07 target price on shares of Noram Lithium and gave the stock a “buy” rating in a report on Tuesday, July 9th.

Noram Lithium Stock Down 15.4 %

The company has a debt-to-equity ratio of 0.78, a current ratio of 6.92 and a quick ratio of 26.78. The stock has a market cap of C$19.56 million, a P/E ratio of -1.77 and a beta of 1.84. The stock’s fifty day simple moving average is C$0.21 and its 200-day simple moving average is C$0.20.

Noram Lithium Company Profile

Noram Lithium Corp. engages in the acquisition, exploration, and development of mineral properties in the United States. Its flagship property is the Zeus Lithium project consisting of 146 placer claims and 136 lode claims covering an area of approximately 1,113 hectares located in Clayton Valley, Nevada.