Critical Elements Lithium (CVE:CRE) Cut to “Hold” at Canaccord Genuity Group

Canaccord Genuity Group cut shares of Critical Elements Lithium (CVE:CRE) from a moderate buy rating to a hold rating in a report published on Thursday, Marketbeat reports. They currently have C$0.35 target price on the stock, down from their prior target price of C$0.85.

Critical Elements Lithium Stock Down 1.6%

Shares of Critical Elements Lithium stock opened at C$0.30 on Thursday. Critical Elements Lithium has a 1 year low of C$0.28 and a 1 year high of C$0.58. The company has a market cap of C$70.77 million, a P/E ratio of -30.50 and a beta of -0.71. 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 has a 50-day moving average price of C$0.35 and a 200 day moving average price of C$0.37.

Critical Elements Lithium Company Profile

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.