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

Key Points

• Avalon Advanced Materials' stock surged 80% on Friday, reaching a high of C$0.15, significantly increasing its trading volume by 3,216% compared to the average daily volume.
• The company's market capitalization is C$86.87 million, with a price-to-earnings ratio of -13.50, indicating negative earnings.
• Avalon is focused on developing Ontario's lithium supply chain and aims to construct the province's first midstream lithium hydroxide processing facility.

Avalon Advanced Materials Inc. (TSE:AVL - )'s share price was up 80% on Friday . 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 3,216% from the average daily volume of 646,775 shares. The stock had previously closed at C$0.08.

Avalon Advanced Materials Stock Up 80.0%

The stock has a fifty day moving average of C$0.04 and a two-hundred day moving average of C$0.03. 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 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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