New Age Metals (CVE:NAM) Trading Up 32.4% – Time to Buy?

New Age Metals Inc. (CVE:NAM)’s stock price shot up 32.4% during trading on Thursday . The company traded as high as C$0.48 and last traded at C$0.45. 2,138,384 shares traded hands during trading, an increase of 1,978% from the average session volume of 102,886 shares. The stock had previously closed at C$0.34.

Analyst Upgrades and Downgrades

Separately, Fundamental Research set a C$0.95 target price on shares of New Age Metals and gave the company a “buy” rating in a research report on Tuesday, November 11th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of C$0.95.

New Age Metals Trading Down 17.8%

The company has a 50 day moving average of C$0.36 and a 200 day moving average of C$0.29. The firm has a market cap of C$24.58 million, a price-to-earnings ratio of -61.67 and a beta of 0.08. The company has a current ratio of 52.48, a quick ratio of 17.88 and a debt-to-equity ratio of 0.74.

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.