American Lithium (CVE:LI) Trading 9.1% Higher – Time to Buy?

American Lithium Corp. (CVE:LI)’s stock price shot up 9.1% during mid-day trading on Wednesday . The stock traded as high as C$0.52 and last traded at C$0.48. Approximately 108,470 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 255,465 shares. The stock had previously closed at C$0.44.

Analysts Set New Price Targets

Separately, National Bank Financial dropped their target price on American Lithium from C$0.95 to C$0.70 and set a “sector perform” rating for the company in a report on Friday, April 17th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, American Lithium currently has a consensus rating of “Hold” and a consensus target price of C$0.70.

American Lithium Stock Up 9.1%

The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.45 and a current ratio of 5.38. The company’s fifty day moving average price is C$0.54 and its 200-day moving average price is C$0.64. The stock has a market cap of C$122.72 million, a P/E ratio of -48.00 and a beta of 1.91.

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. The company was formerly known as Menika Mining Ltd. and changed its name to American Lithium Corp. in April 2016. American Lithium Corp. was incorporated in 1974 and is headquartered in Vancouver, Canada.