New Age Metals (CVE:NAM) Trading 20% Higher – Should You Buy?

New Age Metals Inc. (CVE:NAM)’s share price 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 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, Based on data from MarketBeat, New Age Metals currently has an average rating of “Buy” and an average target price of C$0.95.

New Age Metals Stock 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 stock has a 50 day simple moving average of C$0.33 and a 200 day simple moving average of C$0.26. 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.

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.