New Age Metals (CVE:NAM) Shares Down 5.7% – What’s Next?

New Age Metals Inc. (CVE:NAM)’s share price dropped 5.7% on Wednesday . The stock traded as low as C$0.42 and last traded at C$0.42. Approximately 21,551 shares changed hands during trading, a decline of 80% from the average daily volume of 108,287 shares. The stock had previously closed at C$0.44.

Wall Street Analyst Weigh In

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 research report on Tuesday, November 11th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of C$0.95.

New Age Metals Stock Down 8.0%

The stock has a 50 day moving average price of C$0.37 and a 200 day moving average price of C$0.31. 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 company has a market capitalization of C$29.52 million, a P/E ratio of -67.50 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.