Avalon Advanced Materials (TSE:AVL) Shares Up 41.7% – Time to Buy?

Avalon Advanced Materials Inc. (TSE:AVL) rose 41.7% during mid-day trading on Thursday . The stock traded as high as C$0.09 and last traded at C$0.09. Approximately 10,374,396 shares changed hands during mid-day trading, an increase of 173% from the average daily volume of 3,804,145 shares. The stock had previously closed at C$0.06.

Avalon Advanced Materials Price Performance

The firm has a market cap of C$66.77 million, a price-to-earnings ratio of -8.89 and a beta of 1.07. The stock’s 50-day moving average price is C$0.06 and its 200 day moving average price is C$0.05. The company has a quick ratio of 2.13, a current ratio of 1.66 and a debt-to-equity ratio of 5.71.

Avalon Advanced Materials (TSE:AVL) last issued its quarterly earnings results on Friday, November 28th. The company reported C$0.01 earnings per share (EPS) for the quarter. Avalon Advanced Materials had a negative return on equity of 0.04% and a negative net margin of 48.93%. Equities research analysts predict that Avalon Advanced Materials Inc. will post -0.04 earnings per share for the current year.

Avalon Advanced Materials Company Profile

Avalon Advanced Materials Inc is a Canadian critical minerals company advancing the supply of materials essential for Canadas future. The Company is focused on developing strategic assets that support secure, domestic supply chains and long-term economic growth. Avalon is focused on vertically integrating the Ontario lithium supply chain through the development of Lake Superior Lithium Inc, Ontarios first midstream lithium hydroxide processing facility, located in Thunder Bay. This facility will serve as a vital link between northern Ontarios lithium resources and the growing EV battery manufacturing base in southern Ontario and North America.