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

American Lithium Corp. (CVE:LI) shares hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as C$0.44 and last traded at C$0.44, with a volume of 200667 shares. The stock had previously closed at C$0.45.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. National Bank Financial lowered shares of American Lithium from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 15th. National Bankshares lowered shares of American Lithium from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from C$0.80 to C$0.70 in a research report on Thursday, January 16th.

American Lithium Stock Performance

The business’s 50-day moving average price is C$0.54 and its two-hundred day moving average price is C$0.70. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.22 and a quick ratio of 1.45. The firm has a market cap of C$101.17 million, a price-to-earnings ratio of -3.07 and a beta of 2.30.

Insider Activity

In related news, Director Andrew William Bowering bought 131,500 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was purchased at an average cost of C$0.60 per share, for a total transaction of C$78,742.20. Company insiders own 9.58% of the company’s stock.

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.