Critical Elements Lithium (CVE:CRE) Sets New 12-Month Low – Here’s What Happened

Shares of Critical Elements Lithium Co. (CVE:CRE) reached a new 52-week low during mid-day trading on Thursday. The company traded as low as C$0.28 and last traded at C$0.28, with a volume of 130,701 shares. The stock had previously closed at C$0.29.

Analyst Ratings Changes

Separately, Canaccord Genuity Group downgraded Critical Elements Lithium from a “moderate buy” rating to a “hold” rating and cut their price target for the company from C$0.85 to C$0.35 in a report on Thursday, October 15th. One equities research analyst has rated the stock with a Hold rating. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of C$0.35.

Critical Elements Lithium Price Performance

The company’s 50 day moving average price is C$0.35 and its 200 day moving average price is C$0.37. The company has a market cap of C$64.97 million, a price-to-earnings ratio of -28.00 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.

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.