New Age Metals (CVE:NAM) Trading 20% Higher – Should You Buy?

New Age Metals Inc. (CVE:NAM)’s stock price was 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 were traded 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 Analysts Forecast Growth

Separately, Fundamental Research set a C$0.95 price objective on shares of New Age Metals and gave the company a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of C$0.95.

New Age Metals Stock Performance

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 firm has a 50-day moving average price of C$0.33 and a 200 day moving average price of C$0.25. The firm has a market capitalization of C$19.93 million, a PE ratio of -50.00 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.