New Age Metals (CVE:NAM) Trading Down 15.7% – Time to Sell?

New Age Metals Inc. (CVE:NAM) shares dropped 15.7% on Wednesday . The stock traded as low as C$0.29 and last traded at C$0.30. Approximately 557,333 shares changed hands during mid-day trading, an increase of 580% from the average daily volume of 81,905 shares. The stock had previously closed at C$0.35.

Analyst Ratings Changes

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

New Age Metals Price Performance

The firm’s 50-day moving average price is C$0.33 and its two-hundred day moving average price is C$0.25. The stock has a market cap of C$18.60 million, a PE ratio of -46.67 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.

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.