New Age Metals Inc (CVE:NAM) shares fell 12.5% during trading on Friday . The company traded as low as C$0.04 and last traded at C$0.04, 5,555 shares changed hands during mid-day trading. A decline of 97% from the average session volume of 183,936 shares. The stock had previously closed at C$0.04.
Separately, Fundamental Research set a C$0.27 price target on New Age Metals and gave the stock a “buy” rating in a research note on Tuesday, October 1st.
The stock has a 50 day simple moving average of C$0.04 and a 200-day simple moving average of C$0.05. The firm has a market cap of $4.83 million and a PE ratio of -3.50.
New Age Metals Inc, a mineral exploration company, acquires, explores for, and develops platinum group metals (PGMs), and precious and base metal properties in Canada. Its flagship project is the 100% owned River Valley PGM project that include 30 claim units and 2 mining leases covering an area of approximately 6,688 hectares located in the Dana and Pardo townships of Northern Ontario.
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