New Age Metals (CVE:NAM) Trading Up 20% – Here’s What Happened

New Age Metals Inc. (CVE:NAM) rose 20% during mid-day trading on Saturday . The stock traded as high as C$0.30 and last traded at C$0.30. Approximately 195,568 shares changed 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.

Analysts Set New Price Targets

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

New Age Metals Stock Performance

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

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.