Noram Lithium (CVE:NRM) Stock Price Passes Below 50-Day Moving Average – Here’s Why

Shares of Noram Lithium Corp. (CVE:NRM) passed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of C$0.09 and traded as low as C$0.09. Noram Lithium shares last traded at C$0.09, with a volume of 3,000 shares trading hands.

Analyst Ratings Changes

Separately, Fundamental Research set a C$1.14 price objective on shares of Noram Lithium and gave the stock a “buy” rating in a report on Thursday, January 30th.

Noram Lithium Stock Performance

The business has a 50 day moving average of C$0.09 and a 200-day moving average of C$0.12. The company has a market capitalization of C$8.47 million, a P/E ratio of -2.60 and a beta of 1.26. The company has a debt-to-equity ratio of 0.17, a quick ratio of 26.78 and a current ratio of 4.30.

About Noram Lithium

Noram Lithium Corp., through its subsidiary, Green Energy Resources Inc, engages in the acquisition, exploration, and development of mineral exploration properties. It holds 100% interests in the Zeus lithium project with 146 placer claims and 136 lode claims covering an area of 1,113 hectares located in Clayton Valley, Nevada, the United States.