American Lithium (CVE:LI) Stock Price Passes Below Fifty Day Moving Average - Here's Why

Shares of American Lithium Corp. (CVE:LI - Get Free Report) passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$0.68 and traded as low as C$0.50. American Lithium shares last traded at C$0.52, with a volume of 157,313 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. National Bank Financial lowered shares of American Lithium from a "strong-buy" rating to a "hold" rating in a report on Wednesday, January 15th. National Bankshares cut American Lithium from an "outperform" rating to a "sector perform" rating and reduced their price objective for the company from C$0.80 to C$0.70 in a research note on Thursday, January 16th.

American Lithium Price Performance

The company has a market cap of C$121.83 million, a PE ratio of -3.29 and a beta of 2.30. The stock has a fifty day simple moving average of C$0.67 and a two-hundred day simple moving average of C$0.73. The company has a current ratio of 5.35, a quick ratio of 1.45 and a debt-to-equity ratio of 0.07.

Insider Buying and Selling at American Lithium

In other American Lithium news, Director George Binninger sold 100,000 shares of American Lithium stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of C$1.01, for a total value of C$101,000.00. Also, Director Andrew William Bowering purchased 131,500 shares of American Lithium stock in a transaction on Wednesday, December 11th. The shares were acquired 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 corporate 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.