Neo Lithium (CVE:NLC) Hits New 12-Month High at $6.45

Shares of Neo Lithium Corp. (CVE:NLC) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as C$6.45 and last traded at C$6.42, with a volume of 165221 shares. The stock had previously closed at C$6.42.

A number of research firms have issued reports on NLC. Cormark increased their target price on shares of Neo Lithium from C$6.00 to C$6.50 in a research report on Tuesday, October 12th. Canaccord Genuity downgraded shares of Neo Lithium from a “speculative buy” rating to a “hold” rating in a report on Wednesday, October 27th.

The firm has a market cap of C$893.12 million and a P/E ratio of 70.55. The business’s fifty day moving average price is C$5.57 and its two-hundred day moving average price is C$4.04. The company has a current ratio of 31.24, a quick ratio of 31.20 and a debt-to-equity ratio of 0.01.

Neo Lithium (CVE:NLC) last released its quarterly earnings results on Thursday, August 26th. The company reported C($0.01) earnings per share for the quarter. Research analysts predict that Neo Lithium Corp. will post -0.04 EPS for the current fiscal year.

About Neo Lithium (CVE:NLC)

Neo Lithium Corp., a lithium brine exploration company, engages in the exploration and development of resource properties. It explores for lithium deposits. It owns a 100% interest in the Tres Quebradas (3Q) project covering an area of approximately 35,000 hectares, including a salar complex of approximately 16,000 hectares located in Catamarca Province, Argentina.

Read More: Price to Earnings Ratio (PE)

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