New Age Metals (CVE:NAM) Shares Down 15.7% – Should You Sell?

New Age Metals Inc. (CVE:NAM)’s share price was 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. Approximately 557,333 shares traded hands during trading, an increase of 580% from the average daily volume of 81,905 shares. The stock had previously closed at C$0.35.

Analyst Upgrades and Downgrades

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

New Age Metals Stock Performance

The business has a 50-day moving average of C$0.33 and a two-hundred day moving average of C$0.25. The company has a debt-to-equity ratio of 0.74, a current ratio of 52.48 and a quick ratio of 17.88. The company has a market cap of C$19.93 million, a P/E ratio of -50.00 and a beta of 0.05.

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.