National Bank Financial Downgrades American Lithium (CVE:LI) to Hold

National Bank Financial cut shares of American Lithium (CVE:LI) from a strong-buy rating to a hold rating in a report released on Wednesday morning,Zacks.com reports.

Separately, National Bankshares cut American Lithium from an “outperform” rating to a “sector perform” rating and cut their price target for the company from C$0.80 to C$0.70 in a research note on Thursday.

American Lithium Trading Up 3.5 %

Shares of American Lithium stock opened at C$0.59 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.45 and a current ratio of 5.35. The firm has a 50-day moving average of C$0.74 and a 200-day moving average of C$0.74. American Lithium has a 52-week low of C$0.44 and a 52-week high of C$1.50. The stock has a market cap of C$128.36 million, a PE ratio of -3.47 and a beta of 2.30.

American Lithium (CVE:LI) last posted its quarterly earnings data on Wednesday, October 16th. The company reported C($0.03) earnings per share (EPS) for the quarter. As a group, sell-side analysts forecast that American Lithium will post -0.0691633 EPS for the current year.

Insider Activity at American Lithium

In other American Lithium news, Director Andrew William Bowering bought 131,500 shares of American Lithium stock in a transaction on Wednesday, December 11th. The shares were purchased at an average price of C$0.60 per share, with a total value of C$78,742.20. Also, Director George Binninger sold 100,000 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of C$1.01, for a total value of C$101,000.00. 9.58% of the stock is owned by insiders.

American Lithium Company Profile

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.