New Age Metals (CVE:NAM) Trading 20.8% Higher – Still a Buy?

New Age Metals Inc. (CVE:NAM) shares were up 20.8% on Tuesday . The stock traded as high as C$0.32 and last traded at C$0.32. Approximately 579,851 shares were traded 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 price objective on New Age Metals and gave the company a “buy” rating in a research note on Tuesday, November 11th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of C$0.95.

New Age Metals Price Performance

The company has a market cap of C$21.25 million, a price-to-earnings ratio of -53.33 and a beta of 0.05. The company’s 50 day moving average price is C$0.34 and its 200 day moving average price is 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.