New Age Metals (CVE:NAM) Stock Price Up 38% – Should You Buy?

New Age Metals Inc. (CVE:NAM) shares rose 38% during trading on Friday . The stock traded as high as C$0.37 and last traded at C$0.35. Approximately 985,475 shares changed hands during mid-day trading, an increase of 618% from the average daily volume of 137,289 shares. The stock had previously closed at C$0.25.

Analyst Upgrades and Downgrades

Separately, Fundamental Research set a C$1.04 price objective on New Age Metals and gave the stock a “buy” rating in a report on Tuesday, March 3rd. One equities 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 target price of C$1.04.

New Age Metals Stock Performance

The company has a market cap of C$24.42 million, a PE ratio of 67.00 and a beta of -0.79. The company has a current ratio of 28.08, a quick ratio of 17.88 and a debt-to-equity ratio of 0.30. The business has a fifty day moving average of C$0.33 and a 200-day moving average of C$0.39.

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.