New Age Metals (CVE:NAM) Trading Up 20% – Here’s Why

Shares of New Age Metals Inc. (CVE:NAM) traded up 20% during trading on Friday . The company traded as high as C$0.30 and last traded at C$0.30. 195,568 shares changed hands during 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 Analyst Weigh In

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 investment analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of C$0.95.

New Age Metals Stock Performance

The company has a 50-day moving average of C$0.33 and a 200-day moving average of C$0.25. The company has a market cap of C$19.93 million, a PE 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.