New Age Metals (CVE:NAM) Shares Down 17.8% – What’s Next?

New Age Metals Inc. (CVE:NAM)’s stock price was down 17.8% on Saturday . The stock traded as low as C$0.37 and last traded at C$0.37. Approximately 719,175 shares changed hands during trading, an increase of 581% from the average daily volume of 105,542 shares. The stock had previously closed at C$0.45.

Wall Street Analysts Forecast Growth

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

New Age Metals Price Performance

The stock has a 50 day moving average of C$0.36 and a two-hundred 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 PE ratio of -61.67 and a beta of 0.08.

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.