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

New Age Metals Inc. (CVE:NAM) was up 20% during trading on Saturday . The company traded as high as C$0.30 and last traded at C$0.30. Approximately 195,568 shares changed hands during mid-day 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 New Age Metals and gave the company a “buy” rating in a research note on Tuesday, November 4th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of C$0.95.

New Age Metals Stock Up 20.0%

The stock has a market cap of C$19.93 million, a price-to-earnings ratio of -50.00 and a beta of 0.05. The stock has a 50 day simple moving average of C$0.33 and a 200 day simple moving average of C$0.26. The company has a quick ratio of 17.88, a current ratio of 52.48 and a debt-to-equity ratio of 0.74.

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.