New Age Metals (CVE:NAM) Stock Price Up 16% – Here’s What Happened

New Age Metals Inc. (CVE:NAM) shot up 16% on Friday . The company traded as high as C$0.29 and last traded at C$0.29. 178,068 shares were traded during mid-day trading, an increase of 97% from the average session volume of 90,478 shares. The stock had previously closed at C$0.25.

Wall Street Analysts Forecast Growth

Separately, Fundamental Research set a C$0.95 price objective on New Age Metals and gave the company a “buy” rating in a report on Tuesday. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, New Age Metals presently has an average rating of “Buy” and an average price target of C$0.95.

New Age Metals Price Performance

The stock has a fifty day moving average of C$0.33 and a two-hundred day moving average of C$0.25. The company has a current ratio of 52.48, a quick ratio of 17.88 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of C$19.93 million, a price-to-earnings ratio of -50.00 and a beta of 0.05.

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.