New Age Metals (CVE:NAM) Shares Up 16% – Still a Buy?

New Age Metals Inc. (CVE:NAM)’s share price rose 16% during trading on Friday . The company traded as high as C$0.29 and last traded at C$0.29. Approximately 188,068 shares were traded during mid-day trading, an increase of 108% from the average daily volume of 90,581 shares. The stock had previously closed at C$0.25.

Analyst Ratings Changes

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 equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of C$0.95.

New Age Metals Price Performance

The stock has a 50-day simple moving average of C$0.33 and a 200 day simple moving average of C$0.25. The stock has a market capitalization of C$19.93 million, a P/E ratio of -50.00 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.

About New Age Metals

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.