New Age Metals (CVE:NAM) Stock Price Up 20% – Should You Buy?

New Age Metals Inc. (CVE:NAM) shot up 20% during mid-day trading on Friday . The stock traded as high as C$0.30 and last traded at C$0.30. 195,568 shares traded hands during trading, an increase of 116% from the average session volume of 90,617 shares. The stock had previously closed at C$0.25.

Wall Street Analysts Forecast Growth

Separately, Fundamental Research set a C$0.95 price objective on New Age Metals and gave the stock a “buy” rating in a report on Tuesday. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of C$0.95.

New Age Metals Price Performance

The company has a quick ratio of 17.88, a current ratio of 52.48 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of C$19.93 million, a price-to-earnings ratio of -50.00 and a beta of 0.05. The company’s 50 day moving average is C$0.33 and its 200 day moving average is C$0.25.

New Age Metals Company Profile

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.