New Age Metals (CVE:NAM) Stock Price Up 20% – Here’s Why

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

Analyst Upgrades and Downgrades

Separately, Fundamental Research set a C$0.95 price target on shares of 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 data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of C$0.95.

New Age Metals Stock Performance

The firm’s fifty day simple moving average is C$0.33 and its 200 day simple moving average is C$0.25. The company has a market capitalization of C$19.93 million, a PE ratio of -50.00 and a beta of 0.05. The company has a debt-to-equity ratio of 0.74, a current ratio of 52.48 and a quick ratio of 17.88.

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.