Nevada King Gold (CVE:NKG) Sets New 52-Week Low – Should You Sell?

Nevada King Gold Corp. (CVE:NKG) reached a new 52-week low on Tuesday. The stock traded as low as C$0.60 and last traded at C$0.60, with a volume of 20,827 shares. The stock had previously closed at C$0.66.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group set a C$2.75 price objective on Nevada King Gold and gave the company a “moderate buy” rating in a research report on Wednesday, September 16th. One investment analyst has rated the stock with a Buy rating. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of C$2.75.

Nevada King Gold Price Performance

The business’s 50 day simple moving average is C$0.78 and its 200-day simple moving average is C$0.61. The stock has a market capitalization of C$58.21 million, a P/E ratio of -5.27 and a beta of 1.32.

About Nevada King Gold

Nevada King Gold Corp. engages in the acquisition, exploration, and evaluation of resource properties in Nevada, the United States. The company explores for gold, silver, iron ore, vanadium, and other base metals. The company was formerly known as Victory Metals Inc. and changed its name to Nevada King Gold Corp in April 2021. Nevada King Gold Corp. is based in Vancouver, Canada.