New Age Metals (CVE:NAM) Shares Down 17.1% – Time to Sell?

New Age Metals Inc. (CVE:NAM) shares traded down 17.1% during mid-day trading on Thursday . The stock traded as low as C$0.28 and last traded at C$0.29. 1,133,826 shares changed hands during trading, an increase of 1,238% from the average session volume of 84,751 shares. The stock had previously closed at C$0.35.

Analyst Upgrades and Downgrades

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

New Age Metals Stock Performance

The firm has a market cap of C$19.26 million, a P/E ratio of -48.33 and a beta of 0.05. The company has a current ratio of 52.48, a quick ratio of 17.88 and a debt-to-equity ratio of 0.74. The business’s fifty day simple moving average is C$0.33 and its 200-day simple 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.