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

New Age Metals Inc. (CVE:NAM)’s stock price rose 32.4% on Friday . The stock traded as high as C$0.48 and last traded at C$0.45. Approximately 2,138,384 shares were traded 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 target on New Age Metals and gave the stock a “buy” rating in a research report on Tuesday, November 11th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock 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 quick ratio of 17.88, a current ratio of 52.48 and a debt-to-equity ratio of 0.74. The business’s 50 day moving average is C$0.36 and its 200-day moving average is C$0.29. The firm has a market cap of C$24.58 million, a P/E ratio of -61.67 and a beta of 0.08.

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.