Blue Moon Metals (CVE:MOON) Stock Passes Below 50-Day Moving Average – Here’s What Happened

Shares of Blue Moon Metals Inc. (CVE:MOON) passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$5.16 and traded as low as C$4.76. Blue Moon Metals shares last traded at C$4.88, with a volume of 226,001 shares trading hands.

Analysts Set New Price Targets

Separately, Scotiabank upped their target price on Blue Moon Metals from C$6.00 to C$7.50 in a research report on Thursday, January 8th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of C$7.50.

Blue Moon Metals Stock Performance

The firm has a market cap of C$394.51 million, a price-to-earnings ratio of -10.61 and a beta of 2.00. The business’s 50 day moving average price is C$5.16 and its 200 day moving average price is C$4.11.

Blue Moon Metals Company Profile

Blue Moon Metals Inc, an exploration stage company, engages in the exploration and development of mineral resource properties in Canada and the United States. The company primarily explores for zinc, copper, silver, and gold deposits. It primarily holds 100% interests in the Blue Moon zinc property that comprises patented and unpatented lode mineral claims totaling 445 acres in Mariposa County, California; and Yava base metals property, which includes two mineral leases totaling 1,280 hectares located in Nunavut.