Avalon Advanced Materials (TSE:AVL) Shares Up 80% - Time to Buy?

Key Points

• Avalon Advanced Materials Inc. saw its shares surge by 80%, trading at C$0.14, up from a previous close of C$0.08, with trading volume increasing by 3,215% from the average.
• The company, with a market cap of C$86.87 million, is focused on developing Ontario's lithium supply chain and plans to build the province's first midstream lithium hydroxide processing facility.
• Avalon Advanced Materials has a negative P/E ratio of -13.50 and significant leverage with a debt-to-equity ratio of 5.71, indicating potential financial risk.

Shares of Avalon Advanced Materials Inc. (TSE:AVL - ) traded up 80% during trading on Saturday . The company traded as high as C$0.15 and last traded at C$0.14. 21,446,340 shares traded hands 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 company has a debt-to-equity ratio of 5.71, a current ratio of 1.66 and a quick ratio of 2.13. The company has a market cap of C$86.87 million, a price-to-earnings ratio of -13.50 and a beta of 0.70. The firm's 50 day simple moving average is C$0.04 and its 200-day simple moving average is C$0.04.

About Avalon Advanced Materials

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.