Noram Lithium (CVE:NRM) Shares Cross Below Fifty Day Moving Average – Here’s What Happened

Noram Lithium Corp. (CVE:NRM) shares crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$0.15 and traded as low as C$0.14. Noram Lithium shares last traded at C$0.15, with a volume of 22,000 shares trading hands.

Wall Street Analysts Forecast Growth

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

Noram Lithium Price Performance

The company has a quick ratio of 26.78, a current ratio of 4.57 and a debt-to-equity ratio of 0.39. The stock’s 50-day moving average price is C$0.15 and its 200 day moving average price is C$0.18. The firm has a market cap of C$12.91 million, a price-to-earnings ratio of -2.42 and a beta of 1.26.

Noram Lithium Company Profile

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.