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

Shares of 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 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.

Analysts Set New Price Targets

Separately, Fundamental Research set a C$0.95 price target 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, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of C$0.95.

New Age Metals Price Performance

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

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.