Shares of Western Areas Limited (OTCMKTS:WNARF) traded up 4.5% during trading on Tuesday . The stock traded as high as $2.00 and last traded at $1.99. 6,814 shares changed hands during trading, a decline of 78% from the average session volume of 30,815 shares. The stock had previously closed at $1.90.
A number of brokerages have recently issued reports on WNARF. Credit Suisse Group raised shares of Western Areas from a “neutral” rating to an “outperform” rating in a report on Wednesday, March 10th. Canaccord Genuity upgraded shares of Western Areas from a “hold” rating to a “buy” rating in a research report on Tuesday, April 20th.
The firm’s 50-day moving average price is $1.70 and its 200-day moving average price is $1.83.
Western Areas Limited mines for, processes, and sells nickel sulphide concentrates and other base metals in Australia. It holds a 100% interest in the Forrestania project located in Western Australia. Western Areas Limited was founded in 1999 and is based in West Perth, Australia.
Further Reading: Earnings Per Share
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