New Age Metals (CVE:NAM) Shares Down 17.8% – Time to Sell?

New Age Metals Inc. (CVE:NAM) shares dropped 17.8% during mid-day trading on Saturday . The company traded as low as C$0.37 and last traded at C$0.37. Approximately 719,175 shares changed hands during mid-day trading, an increase of 581% from the average daily volume of 105,542 shares. The stock had previously closed at C$0.45.

Analysts Set New Price Targets

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 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 an average rating of “Buy” and an average price target of C$0.95.

New Age Metals Price Performance

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 company has a market cap of C$24.58 million, a price-to-earnings ratio of -61.67 and a beta of 0.08. The stock’s 50-day simple moving average is C$0.36 and its 200 day simple moving average is C$0.29.

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.