Avalon Advanced Materials (TSE:AVL) Shares Up 41.7% – Here’s What Happened

Shares of Avalon Advanced Materials Inc. (TSE:AVL) shot up 41.7% on Thursday . The company traded as high as C$0.09 and last traded at C$0.09. 10,374,396 shares traded hands during trading, an increase of 173% from the average session volume of 3,804,145 shares. The stock had previously closed at C$0.06.

Avalon Advanced Materials Price Performance

The company has a debt-to-equity ratio of 5.71, a current ratio of 1.66 and a quick ratio of 2.13. The business has a fifty day moving average price of C$0.06 and a two-hundred day moving average price of C$0.05. The firm has a market capitalization of C$66.77 million, a price-to-earnings ratio of -8.89 and a beta of 1.07.

Avalon Advanced Materials (TSE:AVL) last posted its quarterly earnings data on Friday, November 28th. The company reported C$0.01 EPS for the quarter. Avalon Advanced Materials had a negative return on equity of 0.04% and a negative net margin of 48.93%. On average, equities analysts expect that Avalon Advanced Materials Inc. will post -0.04 earnings per share for the current year.

Avalon Advanced Materials Company Profile

Avalon Advanced Materials Inc is a Canadian critical minerals company advancing the supply of materials essential for Canadas future. The Company is focused on developing strategic assets that support secure, domestic supply chains and long-term economic growth. Avalon is focused on vertically integrating the Ontario lithium supply chain through the development of Lake Superior Lithium Inc, Ontarios first midstream lithium hydroxide processing facility, located in Thunder Bay. This facility will serve as a vital link between northern Ontarios lithium resources and the growing EV battery manufacturing base in southern Ontario and North America.