Argentina Lithium & Energy (CVE:LIT) Shares Down 5.3% – Here’s Why

Argentina Lithium & Energy Corp. (CVE:LIT)’s share price dropped 5.3% during mid-day trading on Tuesday . The stock traded as low as C$0.17 and last traded at C$0.18. Approximately 123,199 shares changed hands during trading, an increase of 149% from the average daily volume of 49,475 shares. The stock had previously closed at C$0.19.

Analysts Set New Price Targets

Separately, Fundamental Research set a C$0.40 target price on Argentina Lithium & Energy and gave the company a “buy” rating in a report on Thursday, August 8th.

Argentina Lithium & Energy Stock Performance

The company has a quick ratio of 2.02, a current ratio of 30.57 and a debt-to-equity ratio of 1.09. The stock has a fifty day moving average price of C$0.16 and a 200-day moving average price of C$0.18. The firm has a market cap of C$24.15 million and a price-to-earnings ratio of -0.51.

Argentina Lithium & Energy (CVE:LIT) last announced its quarterly earnings data on Wednesday, August 28th. The company reported C($0.03) EPS for the quarter.

About Argentina Lithium & Energy

Argentina Lithium & Energy Corp., a junior mineral exploration company, engages in the acquisition, exploration, and evaluation of natural resource properties in the Americas and Argentina. It primarily explores for lithium. The company was formerly known as Iron South Mining Corp. and changed its name to Argentina Lithium & Energy Corp.