New Age Metals (CVE:NAM) Stock Price Down 17.1% – Here’s Why

New Age Metals Inc. (CVE:NAM) was down 17.1% on Thursday . The stock traded as low as C$0.28 and last traded at C$0.29. Approximately 1,133,826 shares changed hands during trading, an increase of 1,238% from the average daily volume of 84,751 shares. The stock had previously closed at C$0.35.

Wall Street Analyst Weigh In

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

New Age Metals Trading Down 17.1%

The firm has a market cap of C$19.26 million, a PE ratio of -48.33 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. The business has a fifty day moving average price of C$0.33 and a 200 day moving average price of 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.