New Age Metals (CVE:NAM) Stock Price Down 17.1% – What’s Next?

New Age Metals Inc. (CVE:NAM) dropped 17.1% on Friday . The company traded as low as C$0.29 and last traded at C$0.29. Approximately 125,680 shares traded hands during trading, a decline of 21% from the average daily volume of 158,849 shares. The stock had previously closed at C$0.35.

Wall Street Analyst Weigh In

Separately, Fundamental Research set a C$1.04 price objective on New Age Metals and gave the company a “buy” rating in a report on Tuesday, March 3rd. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of C$1.04.

New Age Metals Stock Down 7.1%

The firm has a market capitalization of C$23.69 million, a price-to-earnings ratio of 65.00 and a beta of -0.43. The company has a current ratio of 28.08, a quick ratio of 17.88 and a debt-to-equity ratio of 0.30. The firm has a fifty day moving average price of C$0.36 and a 200 day moving average price of C$0.39.

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.