Cobalt miner Jervois perks up after rampant sell-off

Jervois Global

31/03/2023 02:05

** Shares of Jervois Global Ltd  JRV.AX  climb as much as
23.7% to A$0.073, posting their biggest intraday pct gain since
Sept. 4, 2019
    ** JRV still set for a weekly decline of 40.8%, their
biggest weekly drop since November 2012      
    ** JRV said on Wednesday it has suspended final construction
at its Idaho Cobalt Operations (ICO) due to low cobalt prices
    ** Macquarie downgraded JRV stock to "neutral" from
"outperform"; Canaccord Genuity downgraded JRV to "speculative
buy" from "buy" and cuts PT to A$0.35 from A$0.65
    ** Nearly 34 mln shares change hands, vs the 30-day average
volume of ~14.1 mln shares
    ** Stock down 78.6% this year, as of last close

 (Reporting by Harish Sridharan in Bengaluru)
 ((harish.sridharan@thomsonreuters.com))