Frontier Lithium (CVE:FL) Shares Down 5.7%

Frontier Lithium Inc. (CVE:FL) shares fell 5.7% during trading on Friday . The company traded as low as C$0.66 and last traded at C$0.66. 48,189 shares were traded during mid-day trading, a decline of 77% from the average session volume of 207,188 shares. The stock had previously closed at C$0.70.

Analysts Set New Price Targets

FL has been the subject of several analyst reports. Desjardins set a C$2.50 target price on shares of Frontier Lithium and gave the company a “buy” rating in a research report on Tuesday, March 5th. Cormark reduced their price objective on shares of Frontier Lithium from C$3.75 to C$3.00 in a research note on Thursday, March 14th. Stifel Nicolaus reduced their price objective on shares of Frontier Lithium from C$4.80 to C$3.00 and set a “buy” rating on the stock in a research note on Tuesday, May 21st. Finally, Royal Bank of Canada cut their target price on shares of Frontier Lithium from C$3.25 to C$2.50 and set an “outperform” rating on the stock in a research note on Wednesday, May 29th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Frontier Lithium has an average rating of “Moderate Buy” and an average price target of C$3.00.

Frontier Lithium Stock Performance

The company’s 50-day moving average price is C$0.80 and its two-hundred day moving average price is C$0.76. The company has a debt-to-equity ratio of 0.38, a quick ratio of 5.19 and a current ratio of 4.41. The stock has a market cap of C$150.24 million, a PE ratio of -6.00 and a beta of 1.38.

Frontier Lithium Company Profile

Frontier Lithium Inc engages in the acquisition, exploration, and development of mining properties in North America. Its flagship property includes the PAK Lithium project, which covers approximately 27,069 hectares comprising three mining leases and 1,258 contiguous mining claims located in northwestern Ontario, Canada.