Avalon Advanced Materials (TSE:AVL) Trading 33.3% Higher – Here’s Why

Avalon Advanced Materials Inc. (TSE:AVL)’s stock price was up 33.3% during trading on Wednesday . The stock traded as high as C$0.08 and last traded at C$0.08. Approximately 8,171,083 shares traded hands during mid-day trading, an increase of 180% from the average daily volume of 2,913,127 shares. The stock had previously closed at C$0.06.

Avalon Advanced Materials Stock Performance

The company has a market capitalization of C$70.94 million, a price-to-earnings ratio of -9.44 and a beta of 1.07. The company has a debt-to-equity ratio of 5.71, a current ratio of 1.66 and a quick ratio of 2.13. The stock has a 50 day simple moving average of C$0.06 and a two-hundred day simple moving average of C$0.05.

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