American Lithium (CVE:LI) Stock Price Down 9.2% – Here’s Why

American Lithium Corp. (CVE:LI)’s stock price traded down 9.2% during trading on Friday . The stock traded as low as C$0.39 and last traded at C$0.40. Approximately 783,684 shares changed hands during mid-day trading, an increase of 230% from the average daily volume of 237,717 shares. The stock had previously closed at C$0.43.

Analyst Upgrades and Downgrades

Separately, National Bank Financial cut their target price on shares of American Lithium from C$0.95 to C$0.70 and set a “sector perform” rating on the stock in a research note on Friday, April 17th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of C$0.70.

American Lithium Price Performance

The stock has a market capitalization of C$95.87 million, a price-to-earnings ratio of -37.50 and a beta of 1.91. The company has a current ratio of 5.38, a quick ratio of 1.45 and a debt-to-equity ratio of 0.03. The stock has a 50-day simple moving average of C$0.49 and a 200 day simple moving average of C$0.61.

American Lithium Company Profile

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.