New Age Metals (CVE:NAM) Shares Up 20% – Here’s What Happened

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

Analysts Set New Price Targets

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

New Age Metals Stock Performance

The company has a market capitalization of C$19.93 million, a PE ratio of -50.00 and a beta of 0.05. The firm’s 50-day simple moving average is C$0.33 and its 200-day simple moving average is C$0.25. The company has a current ratio of 52.48, a quick ratio of 17.88 and a debt-to-equity ratio of 0.74.

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.