New Age Metals (CVE:NAM) Trading Down 17.8% – Here’s Why

New Age Metals Inc. (CVE:NAM) traded down 17.8% during mid-day trading on Saturday . The stock traded as low as C$0.37 and last traded at C$0.37. 719,175 shares were traded during mid-day trading, an increase of 581% from the average session volume of 105,542 shares. The stock had previously closed at C$0.45.

Analyst Upgrades and Downgrades

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

New Age Metals Stock Down 17.8%

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 business’s fifty day moving average price is C$0.36 and its two-hundred day moving average price is C$0.29. The firm has a market cap of C$24.58 million, a P/E ratio of -61.67 and a beta of 0.08.

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.