Fireweed Metals (CVE:FWZ) Shares Up 2.5% – Still a Buy?

Fireweed Metals Corp. (CVE:FWZ) shot up 2.5% during trading on Friday . The company traded as high as C$3.81 and last traded at C$3.73. 182,412 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 356,128 shares. The stock had previously closed at C$3.64.

Wall Street Analysts Forecast Growth

Separately, Raymond James Financial set a C$6.50 price objective on shares of Fireweed Metals and gave the company an “outperform” rating in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of C$5.25.

Fireweed Metals Trading Up 2.5%

The company has a market capitalization of C$846.55 million, a price-to-earnings ratio of -16.95 and a beta of 1.69. The company’s 50 day simple moving average is C$4.33 and its 200-day simple moving average is C$3.73.

About Fireweed Metals

Fireweed Metals Corp. engages in the acquisition and exploration of mineral assets in Canada. It explores for zinc, lead, and silver, as well as gallium and germanium deposits. The company owns an interest in the Macmillan Pass project located in Yukon, Canada; and the Gayna River project situated in Northwest Territories, Canada. It also has an option to acquire 100% interest in the Mactung Tungsten project that covers an area of 37.6 square kilometers located in Yukon and Northwest Territories, Canada.