Grid Metals (CVE:GRDM) Stock Price Up 12.5% – Should You Buy?

Grid Metals Corp. (CVE:GRDM)’s share price was up 12.5% during trading on Wednesday . The stock traded as high as C$0.05 and last traded at C$0.05. Approximately 498,046 shares traded hands during mid-day trading, an increase of 510% from the average daily volume of 81,589 shares. The stock had previously closed at C$0.04.

Analyst Ratings Changes

Separately, Fundamental Research set a C$0.42 target price on Grid Metals and gave the stock a “buy” rating in a research report on Thursday, August 8th.

Grid Metals Price Performance

The firm has a market capitalization of C$10.22 million, a P/E ratio of -1.00 and a beta of 2.28. The stock’s fifty day simple moving average is C$0.04 and its 200 day simple moving average is C$0.06. The company has a debt-to-equity ratio of 97.17, a current ratio of 1.44 and a quick ratio of 6.27.

About Grid Metals

Grid Metals Corp. engages in the exploring and developing base and precious metal mineral properties in Canada. It explores for nickel, copper, cobalt, lithium, and platinum group metals. The company primarily focuses on the East Bull Lake Palladium property that consists of unpatented mining claims located in Ontario.