New Age Metals (CVE:NAM) Stock Price Up 32.4% – Should You Buy?

New Age Metals Inc. (CVE:NAM)’s share price rose 32.4% during trading on Thursday . The company traded as high as C$0.48 and last traded at C$0.45. Approximately 2,138,384 shares traded hands during trading, an increase of 1,978% from the average daily volume of 102,886 shares. The stock had previously closed at C$0.34.

Wall Street Analysts Forecast Growth

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

New Age Metals Price Performance

The company’s fifty day moving average price is C$0.36 and its two-hundred day moving average price is C$0.29. The company has a quick ratio of 17.88, a current ratio of 52.48 and a debt-to-equity ratio of 0.74. The company has a market cap of C$29.89 million, a price-to-earnings ratio of -75.00 and a beta of 0.08.

New Age Metals Company Profile

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.