New Age Metals (CVE:NAM) Shares Down 17.1% – Here’s Why

New Age Metals Inc. (CVE:NAM)’s share price 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 traded 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.

Analysts Set New Price Targets

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

New Age Metals Trading Down 17.1%

The company has a 50 day moving average of C$0.33 and a 200-day moving average of C$0.25. The company has a debt-to-equity ratio of 0.74, a quick ratio of 17.88 and a current ratio of 52.48. The stock has a market cap of C$19.26 million, a price-to-earnings ratio of -48.33 and a beta of 0.05.

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.