American Lithium (CVE:LI) Reaches New 52-Week Low – Here’s Why

American Lithium Corp. (CVE:LI)’s stock price reached a new 52-week low during trading on Wednesday. The company traded as low as C$0.36 and last traded at C$0.36, with a volume of 20,927 shares traded. The stock had previously closed at C$0.36.

Wall Street Analyst Weigh In

Separately, National Bank Financial cut their price objective on shares of American Lithium from C$0.60 to C$0.50 and set a “sector perform” rating on the stock in a research report on Monday. One analyst has rated the stock with a Hold rating. According to data from MarketBeat.com, American Lithium presently has a consensus rating of “Hold” and an average target price of C$0.50.

American Lithium Price Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 5.37 and a quick ratio of 1.45. The stock has a market capitalization of C$84.37 million, a P/E ratio of -8.25 and a beta of 2.05. The stock’s fifty day moving average is C$0.43 and its 200-day moving average is C$0.49.

About American Lithium

American Lithium Corp., an exploration and development stage company, engages in the acquisition, exploration, and development of mineral properties in North and South America. Its properties include the TLC Lithium Project located in the town of Tonopah, Nevada; and the Falchani Lithium project and the Macusani Uranium project located in Puno, Peru. The company was formerly known as Menika Mining Ltd. and changed its name to American Lithium Corp. in April 2016. American Lithium Corp. was incorporated in 1974 and is headquartered in Vancouver, Canada.