Giga Metals (CVE:GIGA) Trading Down 3.8% – Here’s What Happened

Giga Metals Co. (CVE:GIGA) shares dropped 3.8% during trading on Tuesday . The company traded as low as C$0.13 and last traded at C$0.13. Approximately 8,000 shares were traded during trading, a decline of 84% from the average daily volume of 50,247 shares. The stock had previously closed at C$0.13.

Analysts Set New Price Targets

Separately, Fundamental Research set a C$0.75 target price on Giga Metals and gave the stock a “buy” rating in a research report on Tuesday, January 14th.

Giga Metals Price Performance

The stock has a market cap of C$13.20 million, a price-to-earnings ratio of -7.81 and a beta of 1.13. The company has a 50-day moving average of C$0.12 and a 200-day moving average of C$0.13. The company has a debt-to-equity ratio of 0.31, a quick ratio of 14.39 and a current ratio of 4.83.

About Giga Metals

Giga Metals Corporation engages in the acquisition, exploration, and development of mineral properties in Canada. The company explores for nickel and cobalt sulphide deposits. It holds 100% interests in the Turnagain property with 75 contiguous mineral claims covering an area of approximately 40,069 hectares located in the Liard mining division of northern British Columbia.