Liontown Resources (OTCMKTS:LINRF) Trading Down 1.9% – Here’s Why

Shares of Liontown Resources Limited (OTCMKTS:LINRF) dropped 1.9% during mid-day trading on Thursday . The stock traded as low as C$0.74 and last traded at C$0.75. Approximately 40,266 shares traded hands during trading, an increase of 161% from the average session volume of 15,437 shares. The stock had previously closed at C$0.76.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group set a $1.75 price objective on shares of Liontown Resources and gave the company a “neutral” rating in a research report on Thursday, April 9th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold”.

Liontown Resources Price Performance

The company has a 50 day simple moving average of C$1.26 and a 200 day simple moving average of C$1.33.

About Liontown Resources

Liontown Resources Limited is an Australia-based mineral exploration and development company focused on the discovery and advancement of lithium projects for the global battery market. The company’s principal asset is the Kathleen Valley lithium project in the Eastern Goldfields region of Western Australia, where it is advancing a large-scale hard-rock lithium deposit toward production of spodumene concentrate. Liontown’s project portfolio also includes several early-stage tenements in the region that complement its flagship development site.

At Kathleen Valley, Liontown has completed extensive drilling campaigns and technical studies to define a significant mineral resource and to support engineering and environmental approvals.