New Age Metals (CVE:NAM) Shares Up 32.4% – Here’s Why

New Age Metals Inc. (CVE:NAM) shares shot up 32.4% during trading on Friday . The stock traded as high as C$0.48 and last traded at C$0.45. 2,138,384 shares traded hands during trading, an increase of 1,978% from the average daily volume of 102,886 shares. The stock had previously closed at C$0.34.

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 11th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, New Age Metals has a consensus rating of “Buy” and an average price target of C$0.95.

New Age Metals Stock Down 17.8%

The firm has a market cap of C$24.58 million, a P/E ratio of -61.67 and a beta of 0.08. The company has a debt-to-equity ratio of 0.74, a quick ratio of 17.88 and a current ratio of 52.48. The stock’s 50 day simple moving average is C$0.36 and its 200 day simple moving average is C$0.29.

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.