New Age Metals (CVE:NAM) Stock Price Up 20% – What’s Next?

New Age Metals Inc. (CVE:NAM)’s share price shot up 20% during mid-day 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 trading, an increase of 116% from the average session volume of 90,617 shares. The stock had previously closed at C$0.25.

Analysts Set New Price Targets

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

New Age Metals Price Performance

The business has a 50-day moving average of C$0.33 and a 200 day moving average of C$0.26. The company has a current ratio of 52.48, a quick ratio of 17.88 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of C$19.93 million, a P/E ratio of -50.00 and a beta of 0.05.

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.