New Age Metals (CVE:NAM) Stock Price Down 17.1% – What’s Next?

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

Wall Street Analysts Forecast Growth

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

New Age Metals Price Performance

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

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.