New Age Metals (CVE:NAM) Trading 20% Higher – Here’s Why

New Age Metals Inc. (CVE:NAM)’s share price traded up 20% during mid-day trading on Friday . The company traded as high as C$0.30 and last traded at C$0.30. 195,568 shares traded hands during trading, an increase of 116% from the average session volume of 90,617 shares. The stock had previously closed at C$0.25.

Wall Street Analyst Weigh In

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

New Age Metals Trading Up 20.0%

The company has a quick ratio of 17.88, a current ratio of 52.48 and a debt-to-equity ratio of 0.74. The company has a 50-day moving average price of C$0.33 and a 200-day moving average price of C$0.25. The company has a market capitalization of C$19.93 million, a price-to-earnings ratio of -50.00 and a beta of 0.05.

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.