International Lithium (CVE:ILC) Stock Price Down 20% – Here’s Why

International Lithium Corp. (CVE:ILC)’s share price dropped 20% on Tuesday . The stock traded as low as C$0.02 and last traded at C$0.02. Approximately 1,976,147 shares changed hands during mid-day trading, an increase of 1,412% from the average daily volume of 130,707 shares. The stock had previously closed at C$0.03.

International Lithium Price Performance

The company has a debt-to-equity ratio of 2.78, a current ratio of 43.32 and a quick ratio of 54.82. The stock’s 50 day moving average price is C$0.03 and its two-hundred day moving average price is C$0.02. The firm has a market capitalization of C$5.45 million, a price-to-earnings ratio of 3.00 and a beta of 0.19.

About International Lithium

International Lithium Corp. engages in the investment, exploration, and development of mineral properties in Canada, Zimbabwe, and Ireland. It primarily explores for lithium, rubidium, caesium, and rare metal deposits. The company primarily focuses on the Raleigh Lake Lithium and Rubidium Project located in Canada and identifying additional properties in Canada and Zimbabwe. It also has an option agreement to acquire 90% interests in the Grass Roots Copper and Cobalt property located in Northwestern Ontario.