New Age Metals (CVE:NAM) Trading Up 20% – Should You Buy?

New Age Metals Inc. (CVE:NAM)’s stock price shot up 20% during mid-day trading on Saturday . The company traded as high as C$0.30 and last traded at C$0.30. 195,568 shares traded hands during trading, an increase of 116% from the average session volume of 90,617 shares. The stock had previously closed at C$0.25.

Analysts Set New Price Targets

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

New Age Metals Stock Up 20.0%

The company has a debt-to-equity ratio of 0.74, a quick ratio of 17.88 and a current ratio of 52.48. The firm has a 50 day simple moving average of C$0.33 and a two-hundred day simple moving average of C$0.25. The stock has a market cap of C$19.93 million, a P/E 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.