Grid Metals (CVE:GRDM) Shares Down 10% – What’s Next?

Grid Metals Corp. (CVE:GRDM)’s share price traded down 10% during mid-day trading on Friday . The company traded as low as C$0.05 and last traded at C$0.05. 112,000 shares were traded during trading, an increase of 35% from the average session volume of 83,156 shares. The stock had previously closed at C$0.05.

Analysts Set New Price Targets

Separately, Fundamental Research set a C$0.42 price objective on shares of Grid Metals and gave the company a “buy” rating in a research report on Thursday, August 8th.

Grid Metals Price Performance

The company has a debt-to-equity ratio of 97.17, a quick ratio of 6.27 and a current ratio of 1.44. The firm has a market capitalization of C$10.22 million, a price-to-earnings ratio of -1.25 and a beta of 2.28. The firm has a fifty day moving average price of C$0.04 and a 200 day moving average price of C$0.06.

About Grid Metals

Grid Metals Corp. engages in the exploring and developing base and precious metal mineral properties in Canada. It explores for nickel, copper, cobalt, lithium, and platinum group metals. The company primarily focuses on the East Bull Lake Palladium property that consists of unpatented mining claims located in Ontario.