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

Critical Elements Lithium (CVE:CRE) was downgraded by stock analysts at Canaccord Genuity Group from a “speculative buy” rating to a “hold” rating in a report issued on Thursday, BayStreet reports. They presently have a C$0.35 price target on the stock, down from their prior price target of C$0.85. Canaccord Genuity Group’s price target points to a potential upside of 12.90% from the company’s previous close.

Critical Elements Lithium Price Performance

Shares of CRE stock traded down C$0.03 during trading hours on Thursday, hitting C$0.31. The company’s stock had a trading volume of 42,475 shares, compared to its average volume of 154,550. The company has a current ratio of 9.56, a quick ratio of 11.23 and a debt-to-equity ratio of 0.05. The business has a fifty day moving average of C$0.35 and a 200-day moving average of C$0.37. Critical Elements Lithium has a twelve month low of C$0.28 and a twelve month high of C$0.58. The stock has a market cap of C$71.93 million, a price-to-earnings ratio of -31.00 and a beta of -0.71.

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. The company was formerly known as Critical Elements Corporation and changed its name to Critical Elements Lithium Corporation in June 2019.