New Age Metals (CVE:NAM) Trading 20% Higher – Should You Buy?

New Age Metals Inc. (CVE:NAM) shares were up 20% on Friday . The stock traded as high as C$0.30 and last traded at C$0.30. Approximately 195,568 shares changed hands during trading, an increase of 116% from the average daily 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 target price on shares of New Age Metals and gave the stock a “buy” rating in a report on Tuesday. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of C$0.95.

New Age Metals Stock Up 20.0%

The business has a 50-day simple moving average of C$0.33 and a 200-day simple moving average of C$0.25. 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 company has a market cap of C$19.93 million, a price-to-earnings ratio of -50.00 and a beta of 0.05.

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.