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

Shares of New Age Metals Inc. (CVE:NAM) dropped 17.1% during trading on Thursday . The stock traded as low as C$0.28 and last traded at C$0.29. Approximately 1,133,826 shares changed hands during mid-day trading, an increase of 1,238% from the average daily volume of 84,751 shares. The stock had previously closed at C$0.35.

Analyst Upgrades and Downgrades

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

New Age Metals Stock Performance

The firm has a market cap of C$19.26 million, a PE ratio of -48.33 and a beta of 0.05. The company has a current ratio of 52.48, a quick ratio of 17.88 and a debt-to-equity ratio of 0.74. The firm’s 50 day simple moving average is C$0.33 and its 200 day simple moving average is C$0.25.

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.