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

New Age Metals Inc. (CVE:NAM) shares dropped 17.8% on Saturday . The company 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.

Wall Street Analyst Weigh In

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

New Age Metals Stock Performance

The firm has a market cap of C$24.58 million, a PE 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 company has a 50-day simple moving average of C$0.36 and a two-hundred day simple moving average of 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.