New Age Metals (CVE:NAM) Stock Price Down 17.8% – Here’s Why

New Age Metals Inc. (CVE:NAM)’s share price fell 17.8% during trading on Saturday . The stock traded as low as C$0.37 and last traded at C$0.37. 719,175 shares changed hands during mid-day trading, an increase of 581% from the average session volume of 105,542 shares. The stock had previously closed at C$0.45.

Analysts Set New Price Targets

Separately, Fundamental Research set a C$0.95 price objective on New Age Metals and gave the stock a “buy” rating in a report on Tuesday, November 11th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, New Age Metals has a consensus rating of “Buy” and an average price target of C$0.95.

New Age Metals Stock Performance

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 firm has a market capitalization of C$24.58 million, a price-to-earnings ratio of -61.67 and a beta of 0.08. The stock has a fifty day moving average price of C$0.36 and a 200-day moving average price of C$0.29.

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.