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

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

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 11th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of C$0.95.

New Age Metals Price Performance

The company has a market cap of C$24.58 million, a price-to-earnings ratio of -61.67 and a beta of 0.08. The company has a 50-day simple moving average of C$0.36 and a 200-day simple moving average of C$0.29. The company has a debt-to-equity ratio of 0.74, a quick ratio of 17.88 and a current ratio of 52.48.

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.