Northern Shield Resources (CVE:NRN) Stock Price Up 30% – Should You Buy?

Shares of Northern Shield Resources Inc. (CVE:NRN) shot up 30% during trading on Wednesday . The company traded as high as C$0.07 and last traded at C$0.07. 278,000 shares changed hands during mid-day trading, an increase of 74% from the average session volume of 159,766 shares. The stock had previously closed at C$0.05.

Northern Shield Resources Price Performance

The business’s 50-day moving average price is C$0.05 and its two-hundred day moving average price is C$0.07. The company has a market capitalization of C$8.80 million, a P/E ratio of -6.50 and a beta of 0.05.

About Northern Shield Resources

Northern Shield Resources Inc, a natural resource company, engages in identifying, acquiring, and exploring mineral properties primarily in Eastern Canada. It primarily explores for nickel, copper, gold, silver, and platinum group elements. The company holds 100% interest in the Merasheen property with 99 claims covering an area of 25 square kilometers located at the southern end of Merasheen Island in Placentia Bay, Newfoundland; 100% interests in the Huckleberry property comprising 52 claims with an area of 25 square kilometers located in north of Schefferville, Quebec; and 100% interests in the Idefix property with 40 claims covering an area of 18 square kilometers located in Labrador Trough, Québec.