Koryx Copper (CVE:KRY) Trading Up 6% – Here’s Why

Koryx Copper Inc. (CVE:KRY)’s share price rose 6% during mid-day trading on Wednesday . The company traded as high as C$3.90 and last traded at C$3.73. Approximately 310,663 shares traded hands during trading, a decline of 12% from the average daily volume of 353,371 shares. The stock had previously closed at C$3.52.

Analysts Set New Price Targets

Separately, Stifel Nicolaus set a C$3.75 price objective on shares of Koryx Copper and gave the stock a “buy” rating in a research note on Thursday, December 18th. Two research analysts have rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Strong Buy” and a consensus price target of C$3.75.

Koryx Copper Price Performance

The firm’s fifty day simple moving average is C$2.75 and its 200 day simple moving average is C$1.90. The company has a market capitalization of C$449.50 million, a PE ratio of -9.82 and a beta of 1.09.