Avalon Advanced Materials (TSE:AVL) Shares Up 41.7% – Here’s What Happened

Avalon Advanced Materials Inc. (TSE:AVL)’s share price rose 41.7% during mid-day trading on Thursday . The company traded as high as C$0.09 and last traded at C$0.09. Approximately 10,374,396 shares changed hands during trading, an increase of 173% from the average daily volume of 3,804,145 shares. The stock had previously closed at C$0.06.

Avalon Advanced Materials Stock Performance

The company has a debt-to-equity ratio of 5.71, a current ratio of 1.66 and a quick ratio of 2.13. The stock has a market cap of C$66.77 million, a price-to-earnings ratio of -8.89 and a beta of 1.07. The stock’s 50-day moving average is C$0.06 and its 200 day moving average is C$0.05.

Avalon Advanced Materials (TSE:AVL) last released its earnings results on Friday, November 28th. The company reported C$0.01 earnings per share (EPS) for the quarter. Avalon Advanced Materials had a negative return on equity of 0.04% and a negative net margin of 48.93%. As a group, analysts predict that Avalon Advanced Materials Inc. will post -0.04 earnings per share for the current fiscal year.

Avalon Advanced Materials Company Profile

Avalon Advanced Materials Inc is a Canadian critical minerals company advancing the supply of materials essential for Canadas future. The Company is focused on developing strategic assets that support secure, domestic supply chains and long-term economic growth. Avalon is focused on vertically integrating the Ontario lithium supply chain through the development of Lake Superior Lithium Inc, Ontarios first midstream lithium hydroxide processing facility, located in Thunder Bay. This facility will serve as a vital link between northern Ontarios lithium resources and the growing EV battery manufacturing base in southern Ontario and North America.