New Age Metals (CVE:NAM) Shares Up 20.8% – Should You Buy?

Shares of New Age Metals Inc. (CVE:NAM) were up 20.8% during mid-day trading on Tuesday . The stock traded as high as C$0.32 and last traded at C$0.32. Approximately 579,851 shares traded hands during 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 Analysts Forecast Growth

Separately, Fundamental Research set a C$0.95 target price on New Age Metals and gave the stock a “buy” rating in a report on Tuesday, November 11th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of C$0.95.

New Age Metals Trading Up 3.3%

The company has a market capitalization of C$20.92 million, a P/E ratio of -52.50 and a beta of 0.05. The business has a 50 day moving average price of C$0.35 and a 200 day moving average price of C$0.27. The company has a current ratio of 52.48, a quick ratio of 17.88 and a debt-to-equity ratio of 0.74.

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.