New Age Metals (CVE:NAM) Trading 32.4% Higher – Here’s Why

New Age Metals Inc. (CVE:NAM) shares shot up 32.4% during mid-day trading 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 trading, an increase of 1,978% from the average session 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 target price 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.com, New Age Metals currently has a consensus rating of “Buy” and an average target price of C$0.95.

New Age Metals Stock 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 has a 50-day simple moving average of C$0.36 and a 200-day simple moving average of C$0.29. The stock 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.