Avalon Advanced Materials (TSE:AVL) Trading Up 80% - Here's What Happened

Key Points

• Avalon Advanced Materials Inc. shares surged 80% during trading, reaching highs of C$0.15 before closing at C$0.14, with a trading volume significantly higher than average.
• The company is focused on developing Ontario's lithium supply chain and is advancing its Separation Rapids deposit while planning a lithium hydroxide processing facility.
• Avalon currently has a market capitalization of C$86.87 million, with a P/E ratio of -13.50, indicating a challenging financial position for the firm.

Avalon Advanced Materials Inc. (TSE:AVL - ) shares were up 80% during trading on Friday . The company traded as high as C$0.15 and last traded at C$0.14. Approximately 21,446,340 shares were traded 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 Performance

The firm has a market capitalization of C$86.87 million, a P/E ratio of -13.50 and a beta of 0.70. 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 company has a 50-day moving average of C$0.04 and a 200-day moving average of C$0.03.

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.

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.