Cantor Fitzgerald Begins Coverage on Critical Metals (NASDAQ:CRML)

Key Points

• Cantor Fitzgerald initiated coverage on Critical Metals with a “speculative buy” rating and a $18 price target, implying about 124.75% upside from the previous close.
• The stock rose 7.5% on Tuesday to $8.01, though trading volume was well below average at 1.34 million shares versus its typical 13.42 million.
• Critical Metals focuses on lithium metals mining, exploration, and development and owns the Wolfsberg and Tanbreez projects; the company currently has a Buy consensus rating from analysts.

Analysts at Cantor Fitzgerald initiated coverage on shares of Critical Metals (NASDAQ:CRML - Get Free Report) in a research note issued on Tuesday,Benzinga reports. The brokerage set a "speculative buy" rating and a $18.00 price target on the stock. Cantor Fitzgerald's price objective would suggest a potential upside of 124.75% from the stock's previous close.

Other equities research analysts also recently issued research reports about the company. Texas Capital raised Critical Metals to a "strong-buy" rating in a report on Thursday, April 16th. Weiss Ratings upgraded shares of Critical Metals from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, May 19th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $18.00.

Critical Metals Stock Up 7.5%

CRML stock traded up $0.56 on Tuesday, hitting $8.01. 1,338,920 shares of the company's stock were exchanged, compared to its average volume of 13,424,830. Critical Metals has a 12-month low of $3.10 and a 12-month high of $32.15. The firm has a 50 day moving average price of $10.49 and a two-hundred day moving average price of $10.76.

Hedge Funds Weigh In On Critical Metals

Hedge funds have recently made changes to their positions in the company. National Bank of Canada FI acquired a new stake in Critical Metals during the 3rd quarter worth about $25,000. Sunbelt Securities Inc. acquired a new position in shares of Critical Metals in the fourth quarter valued at about $28,000. Royal Bank of Canada raised its stake in shares of Critical Metals by 899.0% in the fourth quarter. Royal Bank of Canada now owns 4,945 shares of the company's stock worth $35,000 after purchasing an additional 4,450 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in shares of Critical Metals in the second quarter worth about $37,000. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Critical Metals by 95.9% during the third quarter. BNP Paribas Financial Markets now owns 6,401 shares of the company's stock worth $40,000 after purchasing an additional 3,134 shares during the period. 86.44% of the stock is owned by institutional investors and hedge funds.

Critical Metals Company Profile

Critical Metals Corp. engages in the mining, exploration, and development of lithium metals. It owns Wolfsberg Project and Tanbreez Project. The company was founded on October 24, 2022 and is headquartered in British Virgin Islands.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.