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

Critical Elements Lithium (CVE:CRE) was downgraded by analysts at Canaccord Genuity Group from a “moderate buy” rating to a “hold” rating in a note issued to investors on Thursday, Marketbeat.com reports. They currently have a C$0.35 price target on the stock, down from their prior price target of C$0.85. Canaccord Genuity Group’s target price indicates a potential upside of 12.90% from the company’s current price.

Critical Elements Lithium Trading Down 7.5%

CVE:CRE opened at C$0.31 on Thursday. Critical Elements Lithium has a one year low of C$0.28 and a one year high of C$0.58. The company has a market cap of C$71.93 million, a PE ratio of -31.00 and a beta of -0.71. 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 firm has a 50-day moving average of C$0.35 and a 200-day moving average 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.