New Age Metals (CVE:NAM) Trading 20.8% Higher – Should You Buy?

Shares of New Age Metals Inc. (CVE:NAM) shot up 20.8% during trading on Wednesday . The stock traded as high as C$0.32 and last traded at C$0.32. 579,851 shares traded hands during mid-day trading, an increase of 520% from the average session volume of 93,506 shares. The stock had previously closed at C$0.27.

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 note on Tuesday, November 11th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, New Age Metals presently has an average rating of “Buy” and a consensus price target of C$0.95.

New Age Metals Stock Performance

The company has a market cap of C$21.92 million, a PE ratio of -55.00 and a beta of 0.05. 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$0.34 and its 200 day simple moving average is C$0.27.

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.