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

New Age Metals Inc. (CVE:NAM) rose 32.4% during trading on Friday . The stock traded as high as C$0.48 and last traded at C$0.45. Approximately 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.

Wall Street Analysts Forecast Growth

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 11th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of C$0.95.

New Age Metals Trading Down 17.8%

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 has a market cap of C$24.58 million, a P/E ratio of -61.67 and a beta of 0.08. The stock has a 50-day moving average price of C$0.36 and a 200-day moving average price of C$0.29.

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.