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

Shares of New Age Metals Inc. (CVE:NAM) rose 20% on Saturday . The stock traded as high as C$0.30 and last traded at C$0.30. Approximately 195,568 shares traded hands 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 shares of New Age Metals and gave the stock 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.com, the company presently has a consensus rating of “Buy” and an average price target of C$0.95.

New Age Metals Price Performance

The company has a market cap of C$19.93 million, a price-to-earnings ratio of -50.00 and a beta of 0.05. 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 business has a 50-day moving average price of C$0.33 and a 200 day moving average price of C$0.25.

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.