Avalon Advanced Materials (TSE:AVL) Trading 25% Higher – Here’s What Happened

Avalon Advanced Materials Inc. (TSE:AVL) shares rose 25% on Wednesday . The stock traded as high as C$0.08 and last traded at C$0.08. Approximately 3,772,299 shares changed hands during mid-day trading, an increase of 79% from the average daily volume of 2,111,120 shares. The stock had previously closed at C$0.06.

Avalon Advanced Materials Stock Performance

The company has a quick ratio of 2.13, a current ratio of 1.66 and a debt-to-equity ratio of 5.71. The stock’s 50 day moving average is C$0.06 and its 200-day moving average is C$0.05. The company has a market cap of C$66.77 million, a PE ratio of -8.89 and a beta of 1.07.

Avalon Advanced Materials (TSE:AVL) last released its quarterly earnings results on Friday, November 28th. The company reported C$0.01 earnings per share for the quarter. Avalon Advanced Materials had a negative return on equity of 0.04% and a negative net margin of 48.93%. As a group, sell-side analysts anticipate that Avalon Advanced Materials Inc. will post -0.04 EPS for the current year.

About Avalon Advanced Materials

Avalon Advanced Materials Inc is a Canadian critical minerals company advancing the supply of materials essential for Canadas future. The Company is focused on developing strategic assets that support secure, domestic supply chains and long-term economic growth. Avalon is focused on vertically integrating the Ontario lithium supply chain through the development of Lake Superior Lithium Inc, Ontarios first midstream lithium hydroxide processing facility, located in Thunder Bay. This facility will serve as a vital link between northern Ontarios lithium resources and the growing EV battery manufacturing base in southern Ontario and North America.