New Age Metals (CVE:NAM) Trading 20.8% Higher – Here’s What Happened

New Age Metals Inc. (CVE:NAM)’s stock price traded up 20.8% during mid-day trading on Wednesday . The stock traded as high as C$0.32 and last traded at C$0.32. 579,851 shares changed 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 New Age Metals and gave the stock a “buy” rating in a report on Tuesday, November 11th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, New Age Metals presently has a consensus rating of “Buy” and a consensus target price of C$0.95.

New Age Metals Price Performance

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 firm’s 50-day moving average price is C$0.34 and its two-hundred day moving average price is C$0.27. The stock has a market cap of C$21.25 million, a PE ratio of -53.33 and a beta of 0.05.

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.