Blue Moon Metals (CVE:MOON) Shares Cross Below 50-Day Moving Average – Time to Sell?

Blue Moon Metals Inc. (CVE:MOON) passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$9.86 and traded as low as C$7.59. Blue Moon Metals shares last traded at C$8.02, with a volume of 106,669 shares.

Wall Street Analysts Forecast Growth

MOON has been the subject of several recent analyst reports. ATB Cormark Capital Markets raised their target price on shares of Blue Moon Metals from C$10.00 to C$13.50 and gave the stock a “speculative buy” rating in a report on Monday, April 20th. Haywood Capital set a C$15.00 price target on shares of Blue Moon Metals and gave the company a “buy” rating in a research report on Friday, April 10th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Blue Moon Metals has an average rating of “Buy” and an average target price of C$12.00.

Blue Moon Metals Stock Performance

The firm has a 50-day simple moving average of C$9.81 and a two-hundred day simple moving average of C$7.61. The company has a market capitalization of C$872.31 million, a price-to-earnings ratio of -0.78 and a beta of 0.31. The company has a current ratio of 2.24, a quick ratio of 0.50 and a debt-to-equity ratio of 6.52.

About Blue Moon Metals

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.