New Age Metals (CVE:NAM) Stock Price Down 15.7% – What’s Next?

New Age Metals Inc. (CVE:NAM) shares traded down 15.7% during mid-day trading on Wednesday . The stock traded as low as C$0.29 and last traded at C$0.30. 557,333 shares traded hands during trading, an increase of 580% from the average session volume of 81,905 shares. The stock had previously closed at C$0.35.

Wall Street Analyst Weigh In

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

New Age Metals Stock Down 20.0%

The firm has a 50-day moving average of C$0.33 and a 200 day moving average of C$0.25. The stock has a market capitalization of C$18.60 million, a price-to-earnings ratio of -46.67 and a beta of 0.05. 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.