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

New Age Metals Inc. (CVE:NAM) shot up 32.4% during mid-day 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 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 Ratings Changes

Separately, Fundamental Research set a C$0.95 price target 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, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of C$0.95.

New Age Metals Trading 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 stock 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 current ratio of 52.48, a quick ratio of 17.88 and a debt-to-equity ratio of 0.74.

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.