New Age Metals (CVE:NAM) Stock Price Up 38% – Should You Buy?

New Age Metals Inc. (CVE:NAM)’s share price shot up 38% on Friday . The stock traded as high as C$0.37 and last traded at C$0.35. 985,475 shares were traded during trading, an increase of 618% from the average session volume of 137,289 shares. The stock had previously closed at C$0.25.

Wall Street Analysts Forecast Growth

Separately, Fundamental Research set a C$1.04 price objective on New Age Metals and gave the company a “buy” rating in a research report on Tuesday, March 3rd. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, New Age Metals has a consensus rating of “Buy” and a consensus target price of C$1.04.

New Age Metals Stock Performance

The company has a 50-day simple moving average of C$0.33 and a two-hundred day simple moving average of C$0.39. The company has a debt-to-equity ratio of 0.30, a quick ratio of 17.88 and a current ratio of 28.08. The firm has a market capitalization of C$24.42 million, a P/E ratio of 67.00 and a beta of -0.79.

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.