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Haywood Securities Downgrades Nevada Copper (TSE:NCU) to Hold


Nevada Copper (TSE:NCUGet Rating) was downgraded by analysts at Haywood Securities to a “hold” rating in a report issued on Wednesday, Stock Target Advisor reports. They currently have a C$0.60 price objective on the mining company’s stock. Haywood Securities’ price target suggests a potential upside of 60.00% from the company’s previous close.

A number of other equities analysts have also recently issued reports on NCU. Royal Bank of Canada cut shares of Nevada Copper to a “sell” rating and set a C$0.50 price objective on the stock. in a research report on Wednesday. Scotiabank cut their target price on shares of Nevada Copper from C$0.80 to C$0.70 in a research note on Tuesday.

Shares of NCU stock traded down C$0.03 during mid-day trading on Wednesday, reaching C$0.38. The stock had a trading volume of 298,931 shares, compared to its average volume of 433,772. The stock’s 50-day moving average price is C$0.56 and its two-hundred day moving average price is C$0.64. Nevada Copper has a 52-week low of C$0.37 and a 52-week high of C$2.55. The firm has a market capitalization of C$168.17 million and a PE ratio of 41.67. The company has a current ratio of 0.13, a quick ratio of 0.11 and a debt-to-equity ratio of 37.88.

Nevada Copper (TSE:NCUGet Rating) last released its quarterly earnings data on Monday, May 16th. The mining company reported C($0.03) earnings per share (EPS) for the quarter. The business had revenue of C$6.45 million for the quarter. On average, equities research analysts forecast that Nevada Copper will post 0.04 earnings per share for the current year.


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Nevada Copper Company Profile (Get Rating)

Nevada Copper Corp. engages in the exploration, development, and operation of mineral properties in Nevada. The company explores for copper, iron magnetite, gold, and silver ores. Its holds 100% interests in the Pumpkin Hollow property located in Nevada, the United States. Nevada Copper Corp. was incorporated in 1999 and is based in Vancouver, British Columbia.

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