American Lithium (CVE:LI) Hits New 12-Month Low – Should You Sell?

American Lithium Corp. (CVE:LI)’s share price reached a new 52-week low on Tuesday. The stock traded as low as C$0.33 and last traded at C$0.34, with a volume of 26,064 shares trading hands. The stock had previously closed at C$0.34.

Analysts Set New Price Targets

Separately, National Bank Financial cut their price objective on shares of American Lithium from C$0.60 to C$0.50 and set a “sector perform” rating for the company in a report on Monday, October 19th. One analyst has rated the stock with a Hold rating. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of C$0.50.

American Lithium Stock Up 1.5%

The business has a 50 day simple moving average of C$0.43 and a 200 day simple moving average of C$0.55. The company has a market capitalization of C$86.93 million, a price-to-earnings ratio of -8.50 and a beta of 2.05. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.37 and a quick ratio of 1.45.

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.