Critical Elements Lithium (CVE:CRE) Trading Down 3.3% – Here’s What Happened

Critical Elements Lithium Co. (CVE:CRE)’s stock price traded down 3.3% during mid-day trading on Wednesday . The stock traded as low as C$0.45 and last traded at C$0.45. 272,983 shares traded hands during mid-day trading, an increase of 64% from the average session volume of 166,036 shares. The stock had previously closed at C$0.46.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reduced their target price on shares of Critical Elements Lithium from C$1.50 to C$1.00 in a research note on Friday, July 26th.

Critical Elements Lithium Stock Performance

The firm has a market cap of C$96.94 million, a PE ratio of 44.50 and a beta of 0.37. The company has a debt-to-equity ratio of 0.27, a current ratio of 16.70 and a quick ratio of 11.23. The stock’s fifty day simple moving average is C$0.50 and its 200-day simple moving average is C$0.61.

Critical Elements Lithium (CVE:CRE) last issued its earnings results on Thursday, November 7th. The company reported C($0.02) EPS for the quarter. On average, sell-side analysts forecast that Critical Elements Lithium Co. will post -0.03 earnings per share for the current year.

About Critical Elements Lithium

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.