New Age Metals (CVE:NAM) Stock Price Down 20% – Here’s Why

New Age Metals Inc. (CVE:NAM)’s share price fell 20% during trading on Wednesday . The stock traded as low as C$0.28 and last traded at C$0.28. 698,949 shares changed hands during mid-day trading, an increase of 746% from the average session volume of 82,630 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 company a “buy” rating in a research note on Tuesday. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of C$0.95.

New Age Metals Stock Down 21.4%

The company has a debt-to-equity ratio of 0.74, a quick ratio of 17.88 and a current ratio of 52.48. The firm has a market cap of C$18.27 million, a price-to-earnings ratio of -45.83 and a beta of 0.05. The firm has a 50-day moving average price of C$0.33 and a two-hundred day moving average price of C$0.25.

About New Age Metals

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.