New Age Metals (CVE:NAM) Trading 24.1% Higher – Should You Buy?

New Age Metals Inc. (CVE:NAM)’s stock price traded up 24.1% on Monday . The company traded as high as C$0.36 and last traded at C$0.36. 184,758 shares changed hands during mid-day trading, a decline of 11% from the average session volume of 206,860 shares. The stock had previously closed at C$0.29.

Wall Street Analysts Forecast Growth

Separately, Fundamental Research set a C$1.04 price objective on shares of New Age Metals and gave the company a “buy” rating in a research note on Tuesday, March 3rd. One equities research 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 a consensus target price of C$1.04.

New Age Metals Price Performance

The stock has a market capitalization of C$23.91 million, a price-to-earnings ratio of -67.50 and a beta of -0.90. The company has a 50 day moving average of C$0.43 and a 200 day moving average of C$0.39. The company has a quick ratio of 17.88, a current ratio of 31.43 and a debt-to-equity ratio of 0.35.

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.