New Age Metals (CVE:NAM) Shares Up 15.6% – Should You Buy?

New Age Metals Inc. (CVE:NAM) was up 15.6% during mid-day trading on Monday . The stock traded as high as C$0.37 and last traded at C$0.37. Approximately 192,046 shares were traded during trading, an increase of 105% from the average daily volume of 93,482 shares. The stock had previously closed at C$0.32.

Wall Street Analysts Forecast Growth

Separately, Fundamental Research set a C$0.95 price objective on shares of New Age Metals and gave the company a “buy” rating in a research note on Tuesday, November 11th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, New Age Metals currently has a consensus rating of “Buy” and a consensus price target of C$0.95.

New Age Metals Price Performance

The business has a 50-day moving average of C$0.35 and a two-hundred day moving average of C$0.28. The company has a current ratio of 52.48, a quick ratio of 17.88 and a debt-to-equity ratio of 0.74. The firm has a market cap of C$23.58 million, a P/E ratio of -59.17 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.