New Age Metals (CVE:NAM) Shares Up 20.6% – Here’s Why

New Age Metals Inc. (CVE:NAM)’s stock price traded up 20.6% during mid-day trading on Thursday . The company traded as high as C$0.41 and last traded at C$0.41. 355,557 shares traded hands during mid-day trading, an increase of 279% from the average session volume of 93,884 shares. The stock had previously closed at C$0.34.

Wall Street Analysts Forecast Growth

Separately, Fundamental Research set a C$0.95 price target on New Age Metals and gave the stock a “buy” rating in a research note on Tuesday, November 11th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, New Age Metals has an average rating of “Buy” and a consensus price target of C$0.95.

New Age Metals Stock Up 32.4%

The stock has a market capitalization of C$29.89 million, a PE ratio of -75.00 and a beta of 0.08. The firm’s fifty day moving average is C$0.36 and its 200-day moving average is C$0.29. 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.