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

Avalon Advanced Materials Inc. (TSE:AVL)’s share price traded 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 mid-day 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 Stock Performance

The stock has a market cap of C$66.77 million, a price-to-earnings ratio of -8.89 and a beta of 1.07. The company has a current ratio of 1.66, a quick ratio of 2.13 and a debt-to-equity ratio of 5.71. The firm has a fifty day simple moving average of C$0.06 and a 200-day simple moving average of C$0.05.

Avalon Advanced Materials (TSE:AVL) last released its earnings results 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%. Analysts forecast that Avalon Advanced Materials Inc. will post -0.04 EPS for the current fiscal 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.