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

Shares of New Age Metals Inc. (CVE:NAM) shot up 20% on Saturday . The company traded as high as C$0.30 and last traded at C$0.30. 195,568 shares were traded during 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 price objective on New Age Metals and gave the stock a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of C$0.95.

New Age Metals Stock Up 20.0%

The business’s 50 day simple moving average is C$0.33 and its 200-day simple moving average is 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.

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.