New Age Metals (CVE:NAM) Trading Up 32.4% – Should You Buy?

New Age Metals Inc. (CVE:NAM) shares were up 32.4% during trading on Friday . The company traded as high as C$0.48 and last traded at C$0.45. Approximately 2,138,384 shares changed hands during mid-day 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 Analyst Weigh In

Separately, Fundamental Research set a C$0.95 target price on New Age Metals and gave the stock a “buy” rating in a research note on Tuesday, November 11th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of C$0.95.

New Age Metals Price Performance

The company has a 50-day moving average of C$0.36 and a 200-day 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. The stock has a market cap of C$24.58 million, a price-to-earnings 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.