New Age Metals (CVE:NAM) Shares Up 32.4% – Still a Buy?

New Age Metals Inc. (CVE:NAM)’s stock price traded up 32.4% during trading on Thursday . The company traded as high as C$0.48 and last traded at C$0.45. 2,138,384 shares changed hands during mid-day trading, an increase of 1,978% from the average session volume of 102,886 shares. The stock had previously closed at C$0.34.

Wall Street Analyst Weigh In

Separately, Fundamental Research set a C$0.95 target price on shares of New Age Metals and gave the company a “buy” rating in a research note on Tuesday, November 11th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of C$0.95.

New Age Metals Trading Down 17.8%

The firm has a market capitalization of C$24.58 million, a PE ratio of -61.67 and a beta of 0.08. The company has a quick ratio of 17.88, a current ratio of 52.48 and a debt-to-equity ratio of 0.74. The stock’s fifty day simple moving average is C$0.36 and its 200 day simple moving average is C$0.29.

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.