Avalon Advanced Materials (TSE:AVL) Stock Price Up 80% - Still a Buy?

Key Points

• Avalon Advanced Materials Inc. experienced an impressive 80% increase in its stock price, reaching C$0.14 from a previous close of C$0.08.
• The trading volume surged to approximately 21.4 million shares, a jump of 3,215% compared to its average daily volume of 646,979 shares.
• The company is focused on developing critical minerals, particularly lithium, including plans for Ontario's first midstream lithium hydroxide processing facility.

Avalon Advanced Materials Inc. (TSE:AVL - )'s share price 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 changed hands during mid-day 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 Stock Up 80.0%

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

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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