Critical Elements Lithium (CVE:CRE) Reaches New 12-Month Low – Here’s What Happened

Critical Elements Lithium Co. (CVE:CRE) reached a new 52-week low during trading on Monday. The stock traded as low as C$0.26 and last traded at C$0.26, with a volume of 32,579 shares. The stock had previously closed at C$0.26.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group downgraded Critical Elements Lithium from a “moderate buy” rating to a “hold” rating and lowered their target price for the stock from C$0.85 to C$0.35 in a report on Thursday, October 15th. One equities research analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of C$0.35.

Critical Elements Lithium Stock Up 2.0%

The company has a current ratio of 9.56, a quick ratio of 11.23 and a debt-to-equity ratio of 0.05. The stock’s 50-day moving average is C$0.33 and its 200-day moving average is C$0.38. The company has a market cap of C$60.33 million, a price-to-earnings ratio of -26.00 and a beta of -1.18.

About Critical Elements Lithium

Critical Elements Lithium Corporation engages in the acquisition, exploration, and development of mining properties in Canada. The company explores for copper, zinc, gold, silver, nickel, lead, lithium, niobium, tantalum, platinum group, and rare earth elements. Its flagship project is the Rose Lithium-Tantalum project that consists of 473 claims covering a total area of 244.99 square kilometers located in the Eastmain greenstone belt. The company was formerly known as Critical Elements Corporation and changed its name to Critical Elements Lithium Corporation in June 2019.