Frontier Lithium (CVE:FL) Stock Price Down 8.9% – Here’s Why

Shares of Frontier Lithium Inc. (CVE:FL) dropped 8.9% during mid-day trading on Wednesday . The stock traded as low as C$0.72 and last traded at C$0.72. Approximately 574,938 shares traded hands during mid-day trading, an increase of 335% from the average daily volume of 132,061 shares. The stock had previously closed at C$0.79.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus dropped their price objective on Frontier Lithium from C$3.00 to C$2.50 in a research note on Friday, January 17th.

Frontier Lithium Price Performance

The company has a current ratio of 4.15, a quick ratio of 5.19 and a debt-to-equity ratio of 0.12. The business’s fifty day moving average is C$0.50 and its 200 day moving average is C$0.55. The company has a market cap of C$147.34 million, a P/E ratio of -7.13 and a beta of 1.35.

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 27,415 hectares comprising three mining leases and 1,258 contiguous mining claims located in northwestern Ontario, Canada.