New Age Metals (CVE:NAM) Shares Down 17.8% – What’s Next?

New Age Metals Inc. (CVE:NAM)’s share price dropped 17.8% on Friday . The stock traded as low as C$0.37 and last traded at C$0.37. Approximately 719,175 shares changed hands during trading, an increase of 581% from the average daily volume of 105,542 shares. The stock had previously closed at C$0.45.

Analyst Upgrades and Downgrades

Separately, Fundamental Research set a C$0.95 price objective on shares of New Age Metals and gave the stock a “buy” rating in a research report on Tuesday, November 11th. One 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 Trading Down 17.8%

The firm has a market cap of C$24.58 million, a P/E ratio of -61.67 and a beta of 0.08. The company has a quick ratio of 17.88, a current ratio of 52.48 and a debt-to-equity ratio of 0.74. The firm’s 50-day simple moving average is C$0.36 and its 200 day simple moving average is C$0.29.

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.