New Age Metals (CVE:NAM) Trading 20% Higher – Here’s What Happened

New Age Metals Inc. (CVE:NAM) was up 20% during trading on Saturday . The stock traded as high as C$0.30 and last traded at C$0.30. Approximately 195,568 shares were traded during mid-day trading, an increase of 116% from the average daily 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 target on shares of New Age Metals and gave the company a “buy” rating in a research report on Tuesday. One analyst has rated the stock with a Buy rating, According to MarketBeat, New Age Metals 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$19.93 million, a PE ratio of -50.00 and a beta of 0.05. The firm’s 50-day moving average is C$0.33 and its 200-day moving average is C$0.25. The company has a quick ratio of 17.88, a current ratio of 52.48 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.