New Age Metals (CVE:NAM) Shares Up 20.8% – Should You Buy?

Shares of New Age Metals Inc. (CVE:NAM) shot up 20.8% during trading on Tuesday . The stock traded as high as C$0.32 and last traded at C$0.32. 579,851 shares were traded during trading, an increase of 521% from the average session volume of 93,371 shares. The stock had previously closed at C$0.27.

Analysts Set New Price Targets

Separately, Fundamental Research set a C$0.95 price target on shares of New Age Metals and gave the company a “buy” rating in a research note on Tuesday, November 11th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, New Age Metals has an average rating of “Buy” and an average target price of C$0.95.

New Age Metals Stock Up 3.3%

The stock has a market capitalization of C$20.92 million, a price-to-earnings ratio of -52.50 and a beta of 0.05. 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 stock has a 50 day moving average price of C$0.35 and a 200 day moving average price of C$0.27.

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.