Millennial Lithium Corp (CVE:ML) passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $1.62 and traded as low as $1.56. Millennial Lithium shares last traded at $1.56, with a volume of 7,500 shares trading hands.
Separately, Liberum Capital set a C$2.20 price target on shares of Millennial Lithium and gave the company a “buy” rating in a research report on Friday, June 7th.
The stock has a market capitalization of $130.45 million and a P/E ratio of -7.86.
Millennial Lithium Corp. engages in the acquisition, exploration, and development of lithium mineral properties. It primarily holds 100% interest in the Pastos Grandes Lithium Project located in Salta Province, Argentina. The company was formerly known as Redhill Resources Corp. and changed its name to Millennial Lithium Corp.
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