New Age Metals (CVE:NAM) Shares Down 17.1% – What’s Next?

New Age Metals Inc. (CVE:NAM) was down 17.1% during trading on Thursday . The company traded as low as C$0.28 and last traded at C$0.29. Approximately 1,133,826 shares were traded during trading, an increase of 1,238% from the average daily volume of 84,751 shares. The stock had previously closed at C$0.35.

Wall Street Analyst Weigh In

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

New Age Metals Stock Performance

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 company has a market capitalization of C$19.93 million, a P/E ratio of -50.00 and a beta of 0.05. The business’s fifty day simple moving average is C$0.33 and its 200-day simple moving average is C$0.25.

New Age Metals Company Profile

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.