New Age Metals (CVE:NAM) Trading 20% Higher – Here’s Why

Shares of New Age Metals Inc. (CVE:NAM) rose 20% during trading on Saturday . The stock traded as high as C$0.30 and last traded at C$0.30. Approximately 195,568 shares changed hands during trading, an increase of 116% from the average daily 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 target on shares of New Age Metals and gave the company a “buy” rating in a research note on Tuesday, November 4th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of C$0.95.

New Age Metals Trading Up 20.0%

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

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.