New Age Metals (CVE:NAM) Shares Up 20% – Should You Buy?

New Age Metals Inc. (CVE:NAM) shares shot up 20% during trading on Saturday . The company traded as high as C$0.30 and last traded at C$0.30. 195,568 shares traded hands during mid-day trading, an increase of 116% from the average session volume of 90,617 shares. The stock had previously closed at C$0.25.

Wall Street Analyst Weigh In

Separately, Fundamental Research set a C$0.95 price objective on New Age Metals and gave the stock a “buy” rating in a research note on Tuesday, November 4th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of C$0.95.

New Age Metals Stock Up 20.0%

The company has a debt-to-equity ratio of 0.74, a current ratio of 52.48 and a quick ratio of 17.88. The company has a market capitalization of C$19.93 million, a price-to-earnings ratio of -50.00 and a beta of 0.05. The firm has a 50-day moving average price of C$0.33 and a two-hundred day moving average price of C$0.26.

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.