Noram Lithium (CVE:NRM) Hits New 1-Year Low – Here’s Why

Noram Lithium Corp. (CVE:NRM) shares reached a new 52-week low during trading on Friday . The company traded as low as C$0.10 and last traded at C$0.09, with a volume of 98014 shares changing hands. The stock had previously closed at C$0.10.

Analysts Set New Price Targets

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

Noram Lithium Trading Down 5.3 %

The company has a market cap of C$8.01 million, a PE ratio of -1.50 and a beta of 1.26. The business has a 50 day simple moving average of C$0.10 and a two-hundred day simple moving average of C$0.14. The company has a current ratio of 4.57, a quick ratio of 26.78 and a debt-to-equity ratio of 0.39.

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.