Critical Elements Lithium (CVE:CRE) Stock Rating Cut to Hold at Canaccord Genuity Group

Critical Elements Lithium (CVE:CRE) was downgraded by Canaccord Genuity Group from a “speculative buy” rating to a “hold” rating in a note issued to investors on Thursday, BayStreet reports. They currently have a C$0.35 price objective on the stock, down from their previous price objective of C$0.85. Canaccord Genuity Group’s price objective would suggest a potential upside of 12.90% from the stock’s current price.

Critical Elements Lithium Trading Down 7.5%

CRE stock traded down C$0.03 on Thursday, hitting C$0.31. 42,475 shares of the company were exchanged, compared to its average volume of 154,550. The company has a debt-to-equity ratio of 0.05, a current ratio of 9.56 and a quick ratio of 11.23. The stock has a market capitalization of C$71.93 million, a price-to-earnings ratio of -31.00 and a beta of -0.71. Critical Elements Lithium has a twelve month low of C$0.28 and a twelve month high of C$0.58. The business’s fifty day moving average is C$0.35 and its two-hundred day moving average is 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.