Fireweed Metals (CVE:FWZ) Shares Up 5.6% – Here’s Why

Fireweed Metals Corp. (CVE:FWZ) traded up 5.6% during mid-day trading on Wednesday . The company traded as high as C$3.38 and last traded at C$3.38. 754,571 shares changed hands during mid-day trading, an increase of 93% from the average session volume of 391,362 shares. The stock had previously closed at C$3.20.

Analysts Set New Price Targets

Several research analysts have commented on FWZ shares. Ventum Cap Mkts raised shares of Fireweed Metals to a “strong-buy” rating in a report on Monday, November 24th. BMO Capital Markets set a C$4.00 price target on Fireweed Metals and gave the company an “outperform” rating in a report on Monday, December 1st. One investment analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Strong Buy” and a consensus price target of C$4.00.

Fireweed Metals Stock Performance

The stock has a market cap of C$712.76 million, a P/E ratio of -14.70 and a beta of 1.26. The stock’s fifty day moving average is C$2.87 and its 200 day moving average is C$2.79.

Fireweed Metals Company Profile

Fireweed Metals Corp. engages in the acquisition and exploration of mineral assets in Canada. It explores for zinc, lead, and silver, as well as gallium and germanium deposits. The company owns an interest in the Macmillan Pass project located in Yukon, Canada; and the Gayna River project situated in Northwest Territories, Canada. It also has an option to acquire 100% interest in the Mactung Tungsten project that covers an area of 37.6 square kilometers located in Yukon and Northwest Territories, Canada.