First Mining Gold (TSE:FF) Shares Down 8.7% – Here’s Why

First Mining Gold Corp. (TSE:FF)’s share price fell 8.7% during mid-day trading on Wednesday . The stock traded as low as C$0.32 and last traded at C$0.32. 8,030,065 shares changed hands during mid-day trading, an increase of 320% from the average session volume of 1,913,417 shares. The stock had previously closed at C$0.35.

Wall Street Analyst Weigh In

Separately, National Bankshares set a C$0.70 target price on First Mining Gold and gave the company an “outperform” rating in a research note on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Strong Buy” and a consensus price target of C$0.70.

First Mining Gold Stock Down 8.0%

The firm has a market cap of C$405.88 million, a P/E ratio of -29.06 and a beta of 0.84. The business’s fifty day moving average price is C$0.31 and its two-hundred day moving average price is C$0.22. The company has a current ratio of 1.30, a quick ratio of 1.01 and a debt-to-equity ratio of 0.12.

First Mining Gold (TSE:FF) last posted its earnings results on Thursday, November 13th. The company reported C($0.02) EPS for the quarter. As a group, equities research analysts anticipate that First Mining Gold Corp. will post -0.05 EPS for the current year.

First Mining Gold Company Profile

First Mining is a Canadian gold developer focused on the development and permitting of the Springpole Gold Project in northwestern Ontario. Springpole is one of the largest undeveloped gold projects in Canada. The results of a positive Pre-Feasibility Study for the Springpole Gold Project were announced by First Mining in January 2021, and permitting activities are on-going with submission of an Environmental Impact Statement for the project targeted for 2021.