New Age Metals (CVE:NAM) Trading Down 17.1% – What’s Next?

New Age Metals Inc. (CVE:NAM)’s stock price dropped 17.1% during mid-day trading on Thursday . The company traded as low as C$0.28 and last traded at C$0.29. Approximately 1,133,826 shares were traded during trading, an increase of 1,238% from the average daily volume of 84,751 shares. The stock had previously closed at C$0.35.

Wall Street Analysts Forecast Growth

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

New Age Metals Trading Up 20.0%

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

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.