New Age Metals (CVE:NAM) Shares Down 21.4% – Here’s Why

New Age Metals Inc. (CVE:NAM)’s stock price fell 21.4% during mid-day trading on Wednesday . The company traded as low as C$0.28 and last traded at C$0.28. 684,449 shares were traded during trading, an increase of 731% from the average session volume of 82,332 shares. The stock had previously closed at C$0.35.

Analyst Upgrades and Downgrades

Separately, Fundamental Research set a C$0.95 target price on New Age Metals and gave the stock a “buy” rating in a report on Tuesday. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of C$0.95.

New Age Metals Stock Down 20.0%

The company has a market cap of C$18.60 million, a price-to-earnings ratio of -46.67 and a beta of 0.05. The company has a debt-to-equity ratio of 0.74, a quick ratio of 17.88 and a current ratio of 52.48. The stock’s fifty day moving average is C$0.33 and its two-hundred day moving average is C$0.25.

New Age Metals Company Profile

New Age Metals Inc, a mineral exploration company, engages in the acquisition, exploration, and development of platinum group metals (PGMs), and precious and base metal properties in Canada. The company explores for rhodium, palladium, platinum, gold, nickel, copper, and lithium deposits. It holds interests in the River Valley PGE project located in the Dana and Pardo townships of Northern Ontario; the Genesis PGE project located in south central Alaska; and lithium projects situated to the northeast of Winnipeg, Manitoba.