Avalon Advanced Materials (TSE:AVL) Trading Up 41.7% – Here’s What Happened

Avalon Advanced Materials Inc. (TSE:AVL)’s share price shot up 41.7% during trading on Wednesday . The stock traded as high as C$0.09 and last traded at C$0.09. 10,374,396 shares traded hands during mid-day trading, an increase of 173% from the average session volume of 3,804,145 shares. The stock had previously closed at C$0.06.

Avalon Advanced Materials Stock Performance

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

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

Avalon Advanced Materials Company Profile

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.