Avalon Advanced Materials (TSE:AVL) Stock Price Up 80% - Here's Why

Key Points

• Avalon Advanced Materials Inc. shares surged 80% to C$0.14 during trading, with an exceptionally high trading volume of over 21 million shares, marking a 3,215% increase from the daily average.
• The company focuses on developing the Ontario lithium supply chain, including its Separation Rapids deposit and aims to construct Ontario's first midstream lithium hydroxide processing facility for EV battery manufacturing.
• Avalon holds a market capitalization of C$86.87 million and a debt-to-equity ratio of 5.71, which indicates its financial leverage in the industry.

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

Avalon Advanced Materials Price Performance

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 stock has a market capitalization of C$86.87 million, a P/E ratio of -13.50 and a beta of 0.70. The stock has a 50 day moving average of C$0.04 and a 200-day moving average of 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.