New Age Metals (CVE:NAM) Shares Up 21.6% – Should You Buy?

New Age Metals Inc. (CVE:NAM)’s share price traded up 21.6% during mid-day trading on Monday . The company traded as high as C$0.45 and last traded at C$0.45. 276,579 shares changed hands during mid-day trading, an increase of 163% from the average session volume of 105,158 shares. The stock had previously closed at C$0.37.

Wall Street Analysts Forecast Growth

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

New Age Metals Trading Up 16.2%

The company has a market cap of C$28.56 million, a P/E ratio of -71.67 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. The business has a 50 day moving average price of C$0.36 and a 200-day moving average price of C$0.29.

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.