New Age Metals (CVE:NAM) Stock Price Down 17.1% – What’s Next?

New Age Metals Inc. (CVE:NAM)’s share price dropped 17.1% during trading on Friday . The stock traded as low as C$0.29 and last traded at C$0.29. Approximately 125,680 shares changed hands during mid-day trading, a decline of 21% from the average daily volume of 158,849 shares. The stock had previously closed at C$0.35.

Wall Street Analyst Weigh In

Separately, Fundamental Research set a C$1.04 target price on New Age Metals and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, New Age Metals presently has a consensus rating of “Buy” and a consensus price target of C$1.04.

New Age Metals Trading Down 7.1%

The company has a fifty day simple moving average of C$0.36 and a two-hundred day simple moving average of C$0.39. The company has a debt-to-equity ratio of 0.30, a current ratio of 28.08 and a quick ratio of 17.88. The company has a market capitalization of C$23.69 million, a P/E ratio of 65.00 and a beta of -0.43.

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.