American Lithium (CVE:LI) Shares Climb 9.1% – Here’s What Happened

Shares of American Lithium Corp. (CVE:LI) traded up 9.1% during mid-day trading on Friday. The company traded as high as C$0.36 and last traded at C$0.36. Approximately 139,190 shares changed hands during mid-day trading, a decline of 32% from the average daily volume of 204,589 shares. The stock had previously closed at C$0.33.

Wall Street Analysts Forecast Growth

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

American Lithium Stock Up 9.1%

The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.45 and a current ratio of 5.37. The firm has a market cap of C$92.04 million, a price-to-earnings ratio of -9.00 and a beta of 2.05. The business’s 50-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.