American Lithium (CVE:LI) Reaches New 52-Week Low – Should You Sell?

American Lithium Corp. (CVE:LI)’s share price hit a new 52-week low on Monday . The company traded as low as C$0.42 and last traded at C$0.42, with a volume of 210094 shares traded. The stock had previously closed at C$0.42.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LI. National Bankshares lowered American Lithium from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from C$0.80 to C$0.70 in a research report on Thursday, January 16th. National Bank Financial lowered American Lithium from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 15th.

American Lithium Stock Performance

The company has a quick ratio of 1.45, a current ratio of 4.22 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of C$96.67 million, a P/E ratio of -2.93 and a beta of 2.30. The company’s 50 day moving average is C$0.53 and its 200-day moving average is C$0.70.

Insider Activity

In other news, Director Andrew William Bowering bought 131,500 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were bought at an average cost of C$0.60 per share, for a total transaction of C$78,742.20. 9.58% of the stock is currently owned by company insiders.

About American Lithium

American Lithium Corp., an exploration and development stage company, engages in the acquisition, exploration, and development of mineral properties in North and South America. Its properties include the TLC Lithium Project located in the town of Tonopah, Nevada; and the Falchani Lithium project and the Macusani Uranium project located in Puno, Peru.