First Cobalt Corp (CVE:FCC) dropped 8.2% on Monday . The company traded as low as C$0.23 and last traded at C$0.23. Approximately 317,640 shares changed hands during mid-day trading, a decline of 52% from the average daily volume of 655,365 shares. The stock had previously closed at C$0.25.
A number of research analysts have recently issued reports on FCC shares. Eight Capital dropped their target price on First Cobalt from C$1.40 to C$1.35 in a report on Wednesday, September 5th. Canaccord Genuity set a C$0.70 target price on First Cobalt and gave the company a “speculative buy” rating in a report on Tuesday, September 18th.
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First Cobalt Corp. engages in the acquisition and exploration of resource properties. The company's principal assets include the Greater Cobalt project, including the cobalt north, south, and central camps located in Ontario, Canada; and the Iron Creek project that is situated in Idaho, the United States.
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