New Age Metals (CVE:NAM) Stock Price Up 20% – Should You Buy?

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

Analysts Set New Price Targets

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 research note on Tuesday. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, New Age Metals currently has a consensus rating of “Buy” and an average target price of C$0.95.

New Age Metals Trading Up 20.0%

The company has a 50 day simple moving average of C$0.33 and a two-hundred 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 firm has a market cap of C$19.93 million, a PE 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.