New Age Metals (CVE:NAM) Trading Down 17.8% – Here’s What Happened

Shares of New Age Metals Inc. (CVE:NAM) traded down 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 traded 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.

Wall Street Analysts Forecast Growth

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

New Age Metals Trading Down 17.8%

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 company’s 50-day moving average is C$0.36 and its 200 day moving average is C$0.29. The company has a market cap of C$24.58 million, a price-to-earnings ratio of -61.67 and a beta of 0.08.

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.