New Age Metals (CVE:NAM) Stock Price Down 17.1% – Time to Sell?

New Age Metals Inc. (CVE:NAM)’s stock price fell 17.1% during mid-day trading on Wednesday . The company traded as low as C$0.28 and last traded at C$0.29. 1,133,826 shares were traded during mid-day trading, an increase of 1,238% from the average session volume of 84,751 shares. The stock had previously closed at C$0.35.

Analysts Set New Price Targets

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

New Age Metals Price Performance

The stock has a market capitalization of C$19.26 million, a P/E ratio of -48.33 and a beta of 0.05. The stock’s fifty 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 current ratio of 52.48 and a quick ratio of 17.88.

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.