New Age Metals (CVE:NAM) Stock Price Up 32.4% – Here’s What Happened

Shares of New Age Metals Inc. (CVE:NAM) rose 32.4% during trading on Thursday . The stock traded as high as C$0.48 and last traded at C$0.45. Approximately 2,138,384 shares changed hands during trading, an increase of 1,978% from the average daily volume of 102,886 shares. The stock had previously closed at C$0.34.

Wall Street Analysts Forecast Growth

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

New Age Metals Trading Down 17.8%

The firm has a 50 day simple moving average of C$0.36 and a 200 day simple moving average of C$0.29. 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 PE ratio of -61.67 and a beta of 0.08.

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.