Global Atomic (TSE:GLO) Price Target Cut to C$2.75

Global Atomic (TSE:GLO) had its target price decreased by equities research analysts at Canaccord Genuity Group from C$3.00 to C$2.75 in a note issued to investors on Tuesday, BayStreet.CA reports. The brokerage presently has a “speculative buy” rating on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 88.36% from the company’s previous close.

Separately, Cormark cut shares of Global Atomic from a “market perform” rating to a “reduce” rating and lowered their price target for the stock from C$1.50 to C$1.00 in a research note on Wednesday, August 14th.

Global Atomic Price Performance

TSE GLO traded up C$0.03 during trading on Tuesday, hitting C$1.46. The stock had a trading volume of 628,347 shares, compared to its average volume of 729,691. The company has a market capitalization of C$331.24 million, a P/E ratio of -30.00 and a beta of 1.37. Global Atomic has a twelve month low of C$1.13 and a twelve month high of C$3.91. The business’s 50 day moving average is C$1.37.

Global Atomic (TSE:GLO) last announced its quarterly earnings results on Monday, August 12th. The company reported C$0.01 EPS for the quarter. The company had revenue of C$0.31 million for the quarter. Global Atomic had a negative net margin of 182.98% and a negative return on equity of 1.06%.

Insider Buying and Selling

In other news, Senior Officer Rein Arnold Lehari sold 44,400 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of C$1.37, for a total transaction of C$60,828.00. In related news, Director Dean Ronald Chambers purchased 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The stock was acquired at an average cost of C$2.06 per share, for a total transaction of C$30,900.00. Also, Senior Officer Rein Arnold Lehari sold 44,400 shares of Global Atomic stock in a transaction on Monday, August 19th. The shares were sold at an average price of C$1.37, for a total transaction of C$60,828.00. Insiders own 10.27% of the company’s stock.

About Global Atomic

Global Atomic Corporation engages in the acquisition, exploration, and development of uranium properties in Niger. It also explores for zinc. The company owns 80% interest in the Dasa deposit located in the Republic of Niger. It also processes electric arc furnace dust into zinc concentrates, which is sold to zinc smelters.