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

New Age Metals Inc. (CVE:NAM)’s stock price dropped 17.1% on Thursday . The company 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.

Analyst Upgrades and Downgrades

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

New Age Metals Price Performance

The company has a debt-to-equity ratio of 0.74, a current ratio of 52.48 and a quick ratio of 17.88. The stock has a market capitalization of C$19.93 million, a price-to-earnings ratio of -50.00 and a beta of 0.05. The company has a 50-day simple moving average of C$0.33 and a two-hundred day simple moving average 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.