New Age Metals (CVE:NAM) Stock Price Up 20% – Here’s Why

New Age Metals Inc. (CVE:NAM) shares rose 20% on Saturday . The stock traded as high as C$0.30 and last traded at C$0.30. Approximately 195,568 shares were traded during trading, an increase of 116% from the average daily volume of 90,617 shares. The stock had previously closed at C$0.25.

Wall Street Analysts Forecast Growth

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

New Age Metals Stock Performance

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 stock’s 50 day moving average price is C$0.33 and its two-hundred day moving average price is C$0.25. The firm has a market capitalization of C$19.93 million, a PE ratio of -50.00 and a beta of 0.05.

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.