New Age Metals (CVE:NAM) Trading Up 38% – Here’s Why

Shares of New Age Metals Inc. (CVE:NAM) traded up 38% during mid-day trading on Friday . The stock traded as high as C$0.37 and last traded at C$0.35. 985,475 shares were traded during trading, an increase of 618% from the average session volume of 137,289 shares. The stock had previously closed at C$0.25.

Wall Street Analysts Forecast Growth

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

New Age Metals Stock Performance

The company has a current ratio of 28.08, a quick ratio of 17.88 and a debt-to-equity ratio of 0.30. The stock’s 50 day moving average price is C$0.32 and its two-hundred day moving average price is C$0.39. The firm has a market capitalization of C$22.60 million, a PE ratio of 62.00 and a beta of -0.79.

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.