Avalon Advanced Materials (TSE:AVL) Shares Up 18.2% – Here’s Why

Avalon Advanced Materials Inc. (TSE:AVL)’s share price was up 18.2% during mid-day trading on Tuesday . The company traded as high as C$0.07 and last traded at C$0.07. Approximately 3,946,127 shares traded hands during trading, an increase of 154% from the average daily volume of 1,556,394 shares. The stock had previously closed at C$0.06.

Avalon Advanced Materials Trading Up 9.1%

The company’s 50 day simple moving average is C$0.06 and its 200 day simple moving average is C$0.05. 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 firm has a market cap of C$50.08 million, a price-to-earnings ratio of -6.67 and a beta of 1.07.

Avalon Advanced Materials (TSE:AVL) last announced its quarterly earnings data on Friday, November 28th. The company reported C$0.01 earnings per share (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, research analysts expect that Avalon Advanced Materials Inc. will post -0.04 earnings per share for the current fiscal year.

About Avalon Advanced Materials

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.