Avalon Advanced Materials (TSE:AVL) Shares Down 4.3% – Here’s Why

Shares of Avalon Advanced Materials Inc. (TSE:AVL) were down 4.3% on Thursday . The stock traded as low as C$0.06 and last traded at C$0.06. Approximately 1,171,737 shares changed hands during trading, a decline of 12% from the average daily volume of 1,333,673 shares. The stock had previously closed at C$0.06.

Avalon Advanced Materials Stock Down 13.0%

The company has a market capitalization of C$41.74 million, a P/E ratio of -5.56 and a beta of 0.47. The company has a quick ratio of 2.13, a current ratio of 1.66 and a debt-to-equity ratio of 5.71. The firm has a fifty day simple moving average of C$0.07 and a 200-day simple moving average of C$0.06.

Avalon Advanced Materials (TSE:AVL) last posted its quarterly earnings data on Thursday, January 15th. The company reported C$0.00 EPS for the quarter. Avalon Advanced Materials had a negative net margin of 48.93% and a negative return on equity of 0.04%. On average, equities research analysts expect that Avalon Advanced Materials Inc. will post -0.04 EPS for the current fiscal year.

Avalon Advanced Materials Company Profile

Avalon Advanced Materials Inc is a Canadian critical minerals company advancing the supply of materials essential for Canadas future. The Company is focused on developing strategic assets that support secure, domestic supply chains and long-term economic growth. Avalon is focused on vertically integrating the Ontario lithium supply chain through the development of Lake Superior Lithium Inc, Ontarios first midstream lithium hydroxide processing facility, located in Thunder Bay. This facility will serve as a vital link between northern Ontarios lithium resources and the growing EV battery manufacturing base in southern Ontario and North America.