Grid Metals (CVE:GRDM) Stock Price Down 14.3% – Here’s Why

Grid Metals Corp. (CVE:GRDM) dropped 14.3% on Monday . The stock traded as low as C$0.03 and last traded at C$0.03. Approximately 100,000 shares were traded during mid-day trading, an increase of 38% from the average daily volume of 72,239 shares. The stock had previously closed at C$0.04.

Analyst Ratings Changes

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

Grid Metals Stock Performance

The company has a fifty day moving average of C$0.04 and a two-hundred day moving average of C$0.06. 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 company has a market cap of C$7.15 million, a price-to-earnings ratio of -0.75 and a beta of 2.31.

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.