New Age Metals (CVE:NAM) Trading 20% Higher – Still a Buy?

New Age Metals Inc. (CVE:NAM) shot up 20% on Saturday . The company traded as high as C$0.30 and last traded at C$0.30. 195,568 shares traded hands during mid-day trading, an increase of 116% from the average session volume of 90,617 shares. The stock had previously closed at C$0.25.

Wall Street Analysts Forecast Growth

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

New Age Metals Price Performance

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 business has a 50-day simple moving average of C$0.33 and a 200 day simple moving average of C$0.25. The firm has a market cap of C$19.93 million, a P/E ratio of -50.00 and a beta of 0.05.

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.