New Age Metals (CVE:NAM) Trading Down 17.1% – Here’s Why

Shares of New Age Metals Inc. (CVE:NAM) dropped 17.1% during trading on Thursday . The stock traded as low as C$0.28 and last traded at C$0.29. Approximately 1,133,826 shares traded hands during trading, an increase of 1,238% from the average daily volume of 84,751 shares. The stock had previously closed at C$0.35.

Analyst Ratings Changes

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 research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of C$0.95.

New Age Metals Price Performance

The stock’s 50-day moving average price is C$0.33 and its 200 day moving average price is C$0.25. The company has a quick ratio of 17.88, a current ratio of 52.48 and a debt-to-equity ratio of 0.74. The firm 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.