Avalon Advanced Materials (TSE:AVL) Shares Up 80% - Should You Buy?

Key Points

• Avalon Advanced Materials Inc. saw a remarkable 80% increase in its stock price during mid-day trading, reaching as high as C$0.15 before settling at C$0.14.
• The trading volume surged to 21.4 million shares, representing a staggering 3,215% increase from the average volume.
• Avalon is focused on vertically integrating the Ontario lithium supply chain and is developing its Separation Rapids deposit, while also planning to construct Ontario's first midstream lithium hydroxide processing facility.

Avalon Advanced Materials Inc. (TSE:AVL - )'s share price shot up 80% during mid-day trading on Saturday . The company traded as high as C$0.15 and last traded at C$0.14. 21,446,340 shares were traded during trading, an increase of 3,215% from the average session volume of 646,979 shares. The stock had previously closed at C$0.08.

Avalon Advanced Materials Stock Up 80.0%

The business has a 50-day moving average price of C$0.04 and a 200-day moving average price of C$0.04. The company has a market capitalization of C$86.87 million, a price-to-earnings ratio of -13.50 and a beta of 0.70. The company has a quick ratio of 2.13, a current ratio of 1.66 and a debt-to-equity ratio of 5.71.

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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