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

New Age Metals Inc. (CVE:NAM)’s stock price rose 20% during trading on Friday . The company traded as high as C$0.30 and last traded at C$0.30. Approximately 195,568 shares changed hands during mid-day trading, an increase of 116% from the average daily volume of 90,617 shares. The stock had previously closed at C$0.25.

Analyst Upgrades and Downgrades

Separately, Fundamental Research set a C$0.95 price objective on New Age Metals and gave the company a “buy” rating in a research note on Tuesday. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company 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 market cap of C$19.93 million, a P/E ratio of -50.00 and a beta of 0.05. 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 business’s 50-day simple moving average is C$0.33 and its two-hundred day simple 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.