American Lithium (CVE:LI) Hits New 52-Week Low – Here’s What Happened

American Lithium Corp. (CVE:LI)’s stock price reached a new 52-week low during trading on Monday. The company traded as low as C$0.32 and last traded at C$0.33, with a volume of 97,043 shares. The stock had previously closed at C$0.34.

Analyst Upgrades and Downgrades

Separately, National Bank Financial decreased their price target on shares of American Lithium from C$0.60 to C$0.50 and set a “sector perform” rating for the company in a research note on Monday, October 19th. One research analyst has rated the stock with a Hold rating. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of C$0.50.

American Lithium Price Performance

The stock has a market capitalization of C$81.81 million, a P/E ratio of -8.00 and a beta of 2.05. The business’s 50 day simple moving average is C$0.42 and its two-hundred day simple moving average is C$0.54. The company has a quick ratio of 1.45, a current ratio of 5.37 and a debt-to-equity ratio of 0.10.

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.