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

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

Wall Street Analysts Forecast Growth

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 report on Tuesday, November 11th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of C$0.95.

New Age Metals Stock Up 20.8%

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

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.