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

New Age Metals Inc. (CVE:NAM) shares fell 20% during trading on Wednesday . The stock traded as low as C$0.28 and last traded at C$0.28. 698,949 shares changed hands during mid-day trading, an increase of 746% from the average session volume of 82,630 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 report on Tuesday. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of C$0.95.

New Age Metals Stock Performance

The firm has a fifty day moving average of C$0.33 and a 200-day moving average of C$0.25. The stock has a market capitalization of C$18.27 million, a price-to-earnings ratio of -45.83 and a beta of 0.05. The company has a quick ratio of 17.88, a current ratio of 52.48 and a debt-to-equity ratio of 0.74.

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.