New Age Metals (CVE:NAM) Trading Down 17.9% – What’s Next?

Shares of New Age Metals Inc. (CVE:NAM) dropped 17.9% during mid-day trading on Monday . The stock traded as low as C$0.42 and last traded at C$0.44. Approximately 390,643 shares changed hands during mid-day trading, an increase of 261% from the average daily volume of 108,209 shares. The stock had previously closed at C$0.53.

Analysts Set New Price Targets

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 analyst has rated the stock with a Buy rating, According to MarketBeat.com, New Age Metals has a consensus rating of “Buy” and an average target price of C$0.95.

New Age Metals Price Performance

The firm’s 50-day moving average is C$0.37 and its 200-day moving average is C$0.31. 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 company has a market capitalization of C$26.90 million, a P/E ratio of -67.50 and a beta of 0.08.

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.