Critical Elements Lithium (CVE:CRE) Shares Down 5.7% – Here’s Why

Shares of Critical Elements Lithium Co. (CVE:CRE) dropped 5.7% during trading on Tuesday . The stock traded as low as C$0.47 and last traded at C$0.50. Approximately 210,933 shares traded hands during trading, an increase of 24% from the average daily volume of 170,196 shares. The stock had previously closed at C$0.53.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group cut their price target on shares of Critical Elements Lithium from C$1.50 to C$1.00 in a research note on Friday, July 26th.

Critical Elements Lithium Stock Performance

The stock has a market cap of C$108.92 million, a PE ratio of 50.00 and a beta of 0.37. The company has a debt-to-equity ratio of 0.27, a current ratio of 16.70 and a quick ratio of 11.23. The stock has a 50-day simple moving average of C$0.46 and a 200-day simple moving average of C$0.63.

Critical Elements Lithium Company Profile

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.