Avalon Advanced Materials (TSE:AVL) Shares Up 46.7% - Still a Buy?

Key Points

• Avalon Advanced Materials shares surged by 46.7% during trading, hitting a high of C$0.12, with a significant increase in trading volume.
• The company focuses on developing the Ontario lithium supply chain and is involved in constructing Ontario's first midstream lithium hydroxide processing facility.
• Avalon Advanced Materials currently has a market capitalization of C$70.78 million and a negative PE ratio of -11.00, indicating ongoing financial challenges.

Avalon Advanced Materials Inc. (TSE:AVL - )'s stock price shot up 46.7% during trading on Friday . The company traded as high as C$0.12 and last traded at C$0.11. 5,148,969 shares were traded during mid-day trading, an increase of 842% from the average session volume of 546,401 shares. The stock had previously closed at C$0.08.

Avalon Advanced Materials Trading Up 46.7%

The business has a 50 day moving average price of C$0.04 and a 200-day moving average price of C$0.03. The company has a current ratio of 1.66, a quick ratio of 2.13 and a debt-to-equity ratio of 5.71. The firm has a market capitalization of C$70.78 million, a PE ratio of -11.00 and a beta of 0.70.

Avalon Advanced Materials Company Profile

Avalon Advanced Materials Inc is a Canadian critical minerals development company focused on vertically integrating the Ontario lithium supply chain. The company is currently developing its Separation Rapids deposit near Kenora, ON. while continuing to advance other projects in its portfolio. In additional to extraction activities, Avalon is executing on its key strategic objective of constructing Ontario's first midstream lithium hydroxide processing facility to bridge upstream lithium production and downstream EV battery manufacturing.

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