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

New Age Metals Inc. (CVE:NAM)’s stock 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 were traded 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.

Analyst Upgrades and Downgrades

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

New Age Metals Price Performance

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’s 50-day moving average price is C$0.33 and its 200-day moving average price is C$0.26. The company has a market cap 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.