New Age Metals (CVE:NAM) Shares Down 5.7% – Here’s What Happened

New Age Metals Inc. (CVE:NAM) was down 5.7% during trading on Wednesday . The company traded as low as C$0.42 and last traded at C$0.42. Approximately 21,551 shares changed hands during trading, a decline of 80% from the average daily volume of 108,287 shares. The stock had previously closed at C$0.44.

Analyst Ratings Changes

Separately, Fundamental Research set a C$0.95 target price on shares of New Age Metals and gave the company a “buy” rating in a research note on Tuesday, November 11th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of C$0.95.

New Age Metals Stock Performance

The company has a 50-day moving average of C$0.37 and a 200-day moving average of C$0.31. The firm has a market capitalization of C$27.23 million, a price-to-earnings ratio of -68.33 and a beta of 0.08. The company has a current ratio of 52.48, a quick ratio of 17.88 and a debt-to-equity ratio of 0.74.

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.