New Age Metals (CVE:NAM) Trading Up 10% – Here’s Why

New Age Metals Inc. (CVE:NAM)’s stock price traded up 10% on Friday . The stock traded as high as C$0.29 and last traded at C$0.28. 163,673 shares traded hands during trading, an increase of 81% from the average session volume of 90,432 shares. The stock had previously closed at C$0.25.

Analysts Set New Price Targets

Separately, Fundamental Research set a C$0.95 price objective on shares of New Age Metals and gave the stock a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of C$0.95.

New Age Metals Stock Up 20.0%

The stock’s 50-day moving average price is C$0.33 and its two-hundred day moving average price is C$0.25. The company has a current ratio of 52.48, a quick ratio of 17.88 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of C$19.93 million, a P/E ratio of -50.00 and a beta of 0.05.

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.