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

New Age Metals Inc. (CVE:NAM) rose 20.8% during mid-day trading on Tuesday . The stock traded as high as C$0.32 and last traded at C$0.32. Approximately 579,851 shares traded hands during mid-day trading, an increase of 520% from the average daily volume of 93,506 shares. The stock had previously closed at C$0.27.

Analyst Upgrades and Downgrades

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 note on Tuesday, November 11th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of C$0.95.

New Age Metals Stock 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 fifty day simple moving average of C$0.35 and a two-hundred day simple moving average of C$0.27. The firm has a market capitalization of C$20.92 million, a P/E ratio of -52.50 and a beta of 0.05.

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.