New Age Metals (CVE:NAM) Shares Up 20% – Should You Buy?

New Age Metals Inc. (CVE:NAM)’s share price was up 20% during trading 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.

Analyst Upgrades and Downgrades

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

New Age Metals Stock Up 20.0%

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’s 50 day simple moving average is C$0.33 and its 200 day simple moving average is C$0.25. The firm has a market cap of C$19.93 million, a P/E 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.