New Age Metals (CVE:NAM) Shares Up 20.8% – Here’s What Happened

New Age Metals Inc. (CVE:NAM) shares rose 20.8% during trading on Wednesday . The stock traded as high as C$0.32 and last traded at C$0.32. Approximately 579,851 shares changed hands during mid-day trading, an increase of 520% from the average daily volume of 93,506 shares. The stock had previously closed at C$0.27.

Wall Street Analyst Weigh In

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 equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, New Age Metals has a consensus rating of “Buy” and a consensus target price of C$0.95.

New Age Metals Stock Up 3.3%

The firm has a market cap of C$20.92 million, a PE ratio of -52.50 and a beta of 0.05. The company has a debt-to-equity ratio of 0.74, a quick ratio of 17.88 and a current ratio of 52.48. The company’s 50-day simple moving average is C$0.35 and its two-hundred day simple moving average is C$0.27.

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.