New Age Metals (CVE:NAM) Stock Price Down 15.7% – What’s Next?

New Age Metals Inc. (CVE:NAM)’s share price was down 15.7% during mid-day trading on Wednesday . The company traded as low as C$0.29 and last traded at C$0.30. Approximately 557,333 shares were traded during trading, an increase of 580% from the average daily volume of 81,905 shares. The stock had previously closed at C$0.35.

Analysts Set New Price Targets

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

New Age Metals Trading Down 20.0%

The firm has a market capitalization of C$18.60 million, a price-to-earnings ratio of -46.67 and a beta of 0.05. The business’s 50-day simple moving average is C$0.33 and its two-hundred day simple moving average is C$0.25. The company has a quick ratio of 17.88, a current ratio of 52.48 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.