New Age Metals (CVE:NAM) Stock Price Down 17.8% – Here’s Why

New Age Metals Inc. (CVE:NAM) fell 17.8% during trading on Saturday . The stock traded as low as C$0.37 and last traded at C$0.37. Approximately 719,175 shares were traded during mid-day trading, an increase of 581% from the average daily volume of 105,542 shares. The stock had previously closed at C$0.45.

Analysts Set New Price Targets

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

New Age Metals Stock Down 17.8%

The firm’s 50 day moving average is C$0.36 and its 200-day moving average is C$0.29. The firm has a market cap of C$24.58 million, a PE ratio of -61.67 and a beta of 0.08. The company has a quick ratio of 17.88, a current ratio of 52.48 and a debt-to-equity ratio of 0.74.

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.