New Age Metals (CVE:NAM) Trading Down 18% – Here’s What Happened

New Age Metals Inc. (CVE:NAM) shares dropped 18% on Thursday . The company traded as low as C$0.41 and last traded at C$0.41. Approximately 153,476 shares traded hands during trading, a decline of 30% from the average daily volume of 217,890 shares. The stock had previously closed at C$0.50.

Analysts Set New Price Targets

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

New Age Metals Stock Performance

The stock has a market cap of C$27.56 million, a P/E ratio of -67.50 and a beta of -0.25. The firm has a 50 day moving average of C$0.45 and a two-hundred day moving average of C$0.35. The company has a debt-to-equity ratio of 0.74, a quick ratio of 17.88 and a current ratio of 52.48.

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.