Noram Lithium (CVE:NRM) Shares Pass Below 50 Day Moving Average – Here’s Why

Posted by Jeff Wilder on Nov 1st, 2024

Noram Lithium Corp. (CVE:NRM – Get Free Report)’s share price 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.

Analyst Upgrades and Downgrades

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

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Noram Lithium Stock Performance

The company’s fifty day moving average is C$0.15 and its 200 day moving average is C$0.18. The company has a market capitalization of C$12.47 million, a P/E ratio of -2.33 and a beta of 1.26. 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

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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.