Calibre Mining (TSE:CXB) Shares Up 8.1% – Here’s Why

Shares of Calibre Mining Corp. (TSE:CXB) shot up 8.1% during mid-day trading on Wednesday . The company traded as high as C$2.39 and last traded at C$2.39. 403,697 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 1,085,804 shares. The stock had previously closed at C$2.21.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Stifel Nicolaus lowered their target price on shares of Calibre Mining from C$5.00 to C$4.40 in a report on Monday, October 21st. National Bank Financial upgraded Calibre Mining from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 9th. Jefferies Financial Group upped their target price on shares of Calibre Mining from C$2.75 to C$3.50 in a research note on Friday, October 4th. National Bankshares decreased their price objective on Calibre Mining from C$4.00 to C$3.60 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Finally, TD Securities dropped their target price on Calibre Mining from C$3.50 to C$3.25 in a research report on Wednesday, November 6th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Calibre Mining has an average rating of “Buy” and a consensus target price of C$3.43.

Calibre Mining Trading Up 7.7 %

The company has a fifty day moving average of C$2.31 and a 200-day moving average of C$2.30. The company has a market capitalization of C$1.88 billion, a price-to-earnings ratio of 17.00 and a beta of 2.08. The company has a current ratio of 2.33, a quick ratio of 0.97 and a debt-to-equity ratio of 39.77.

About Calibre Mining

Calibre Mining Corp., together with its subsidiaries, engages in the exploration, development, and mining of gold properties in Nicaragua, the United States, and Canada. It primarily explores gold, silver, and copper deposits. The company was formerly known as TLC Ventures Corp. and changed its name to Calibre Mining Corp.