New Age Metals (CVE:NAM) Shares Down 16.1% – What’s Next?

New Age Metals Inc. (CVE:NAM) traded down 16.1% during trading on Tuesday . The company traded as low as C$0.23 and last traded at C$0.24. 122,075 shares traded hands during trading, a decline of 11% from the average session volume of 137,842 shares. The stock had previously closed at C$0.28.

Wall Street Analyst Weigh In

Separately, Fundamental Research set a C$1.04 price target on shares of New Age Metals and gave the company a “buy” rating in a research report on Tuesday, March 3rd. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, New Age Metals currently has an average rating of “Buy” and a consensus price target of C$1.04.

New Age Metals Price Performance

The company has a quick ratio of 17.88, a current ratio of 28.08 and a debt-to-equity ratio of 0.30. The stock has a market cap of C$16.77 million, a P/E ratio of 46.00 and a beta of -0.79. The firm’s fifty day moving average price is C$0.33 and its 200-day moving average price is C$0.39.

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.