New Age Metals (CVE:NAM) Trading 20.8% Higher – Here’s Why

Shares of New Age Metals Inc. (CVE:NAM) were up 20.8% on Tuesday . The stock traded as high as C$0.32 and last traded at C$0.32. Approximately 579,851 shares traded hands during mid-day trading, an increase of 520% from the average daily volume of 93,506 shares. The stock had previously closed at C$0.27.

Analyst Upgrades and Downgrades

Separately, Fundamental Research set a C$0.95 price target on New Age Metals and gave the stock a “buy” rating in a research note on Tuesday, November 11th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of C$0.95.

New Age Metals Stock Performance

The firm has a market cap of C$21.25 million, a price-to-earnings ratio of -53.33 and a beta of 0.05. The firm’s 50 day moving average is C$0.34 and its 200-day moving average is C$0.27. The company has a debt-to-equity ratio of 0.74, a quick ratio of 17.88 and a current ratio of 52.48.

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.