Critical Elements Lithium (CVE:CRE) Reaches New 52-Week Low – Here’s What Happened

Critical Elements Lithium Co. (CVE:CRE)’s stock price hit a new 52-week low during mid-day trading on Tuesday. The stock traded as low as C$0.27 and last traded at C$0.27, with a volume of 10,914 shares. The stock had previously closed at C$0.27.

Analysts Set New Price Targets

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

Critical Elements Lithium Price Performance

The company has a market cap of C$62.65 million, a P/E ratio of -27.00 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 stock has a fifty day moving average price of C$0.34 and a two-hundred day moving average price of C$0.38.

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.