New Age Metals (CVE:NAM) Trading 20% Higher – Here’s Why

New Age Metals Inc. (CVE:NAM) shares were up 20% during mid-day trading on Friday . The company traded as high as C$0.30 and last traded at C$0.30. Approximately 195,568 shares traded hands during trading, an increase of 116% from the average daily volume of 90,617 shares. The stock had previously closed at C$0.25.

Wall Street Analyst Weigh In

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

New Age Metals Stock Performance

The firm has a market cap of C$19.93 million, a price-to-earnings ratio of -50.00 and a beta of 0.05. The firm’s 50 day moving average is C$0.33 and its 200-day moving average is C$0.25. The company has a debt-to-equity ratio of 0.74, a quick ratio of 17.88 and a current ratio of 52.48.

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.