American Lithium (CVE:LI) Reaches New 12-Month Low – Here’s What Happened

American Lithium Corp. (CVE:LI) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as C$0.44 and last traded at C$0.44, with a volume of 105536 shares changing hands. The stock had previously closed at C$0.47.

Analysts Set New Price Targets

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

American Lithium Stock Performance

The business’s 50-day simple moving average is C$0.54 and its two-hundred day simple moving average is C$0.70. The company has a quick ratio of 1.45, a current ratio of 4.22 and a debt-to-equity ratio of 0.06. The firm has a market cap of C$97.80 million, a price-to-earnings ratio of -2.96 and a beta of 2.30.

Insider Activity at American Lithium

In other American Lithium news, Director Andrew William Bowering acquired 131,500 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was purchased at an average cost of C$0.60 per share, with a total value of C$78,742.20. 9.58% of the stock is owned by corporate insiders.

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.