Noranda Income Fund (TSE:NIF.UN)’s stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.64 and traded as low as $1.13. Noranda Income Fund shares last traded at $1.14, with a volume of 132,900 shares trading hands.
Separately, TD Securities decreased their price target on shares of Noranda Income Fund from C$3.75 to C$3.25 and set a “buy” rating on the stock in a research note on Sunday, May 17th.
The stock has a market capitalization of $42.36 million and a PE ratio of 1.83. The stock’s 50 day moving average is C$1.14 and its two-hundred day moving average is C$1.64. The company has a debt-to-equity ratio of 76.08, a quick ratio of 0.56 and a current ratio of 1.36.
Noranda Income Fund operates as an income trust. The company owns electrolytic zinc processing facility and ancillary assets located in Salaberry-de-Valleyfield, Québec that produces refined zinc metal and various by-products from zinc concentrate. Its products include jumbo zinc, a product customized with alloy for steel customers to enhance the productivity of galvanizing lines; zinc shot, a product that is used to produce electro-galvanized steel for the car industry; and granulated zinc that is used in the production of fertilizers and reagents for the pulp and paper industry.
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